Saudi Gazette report

PARIS — Saudi and French companies have signed 24 agreements and Memorandum of Understandings (MoUs) in several investment sectors during the French-Saudi Investment Forum, which was held in Paris.

The exchanging ceremony of the agreements and Memorandum of Understandings (MoUs) was witnessed by the Minister of Investment Eng. Khaled Al-Falih and French Minister Delegate for Foreign Trade, Economic Attractiveness and French Nationals Abroad Olivier Becht.

The French-Saudi Investment Forum was inaugurated on Monday by Eng. Al-Falih, in the presence of a number of officials and business leaders

The Ministry of Investment had announced earlier that it would participate in the French-Saudi Investment Forum, which aims to empower Saudi and French government officials, and the private sector companies to discuss the different huge investment opportunities.

The French-Saudi Investment Forum also aims in highlighting the progress made by each country in the economic development plans.

It is noteworthy that coinciding with the visit of Crown Prince and Prime Minister Mohammed Bin Salman to France, the Federation of Saudi Chambers (FSC) organized a visit of a delegation of 25 companies to France, with the aim of discussing strengthening trade and investment relations between the two countries.

The FSC said that the Saudi-French Business Council was established 20 years ago, through which it contributed to strengthening the trade and investment partnership between the Kingdom and France.

As for the volume of trade exchange between Saudi Arabia and France, it amounted to SR43.3 billion, the FSC confirmed, noting that Saudi exports to France grew by 80%.

France ranks 17th among the countries that Saudi Arabia exports to, and France ranks 8th among the countries from which the Kingdom imports, FSC revealed.