A group of representatives from 72 Saudi companies is travelling to Poland and Slovakia to expand trade with the European nations.
The trip also includes delegates from the Federation of Saudi Chambers, which will attend high-level economic meetings with representatives from the private sector and senior government officials. Their goal is to investigate investment prospects and enter into several contracts and business alliances.
According to the Saudi Press Agency, the delegation, which is headed by Hassan bin Mujib Al-Huwaizi, Chairman of the Federation of Saudi Chambers, consists of more than 72 business representatives from a range of economic sectors as well as governmental bodies and authorities.
To increase trade and investment between the two nations, the Kingdom and Poland formed a joint business council in August for the 2024–2028 term. With an emphasis on Poland, one of the biggest economies on the continent, the action is a component of the country’s larger plan to strengthen economic ties with Europe.
The agri-food industry in Poland has grown significantly, with exports hitting a record 47.9 billion euro (USD 51.1 billion) in 2023, up €10 billion from the year before. Saudi Arabia and Poland’s trade reached SR33.7 billion in 2023.
Tobacco, machinery, and mechanical appliances are Poland’s top exports to the Arab nation, while the Kingdom’s top exports to Poland are plastics and mineral products.
Since the Slovak Embassy in Riyadh was formally opened in recent years, the relationship between Saudi Arabia and Slovakia has also improved. Furthermore, there are still unexplored investment opportunities due to the notable increase in bilateral trade.
The Saudi-Polish Business Council meeting, a joint forum, and bilateral meetings between representatives will be held by the delegation before it starts its trip to Poland.
The delegation will host the Saudi-Slovak Business Forum in Slovakia, hold meetings between the two countries’ companies, and sign a deal to create a joint business council.