Saudi Gazette report

LONDON — The GREAT FUTURES Initiative Conference kicked off on Tuesday in Riyadh, welcoming around 1,500 participants from Saudi Arabia and the UK. British Deputy Prime Minister Oliver Dowden and several Saudi and British ministers were among the attendees.

The conference aims to strengthen economic ties between the two nations and promote trade and mutual investment across various promising sectors. Minister of Commerce, Dr. Majid Al-Qasabi, emphasized that the conference embodies the vision of the Saudi-UK Strategic Partnership Council, led by Crown Prince Mohammed bin Salman and UK Prime Minister Rishi Sunak, dedicated to expanding the economic alliance.

Al-Qasabi highlighted that the Saudi-UK partnership has led to the launch of 60 initiatives in 13 economic sectors, with bilateral trade increasing by over 30% from 2018 to 2023, surpassing 79 billion pounds sterling. Additionally, 1,139 British investors are benefiting from economic reforms in the Kingdom.

British Deputy Prime Minister Oliver Dowden emphasized the partnership's goal of fostering prosperity and adapting to challenges and advancements. Leading a UK delegation of over 450 participants, 70% of whom are visiting the Kingdom for the first time, Dowden expressed Britain's readiness to contribute to Saudi Arabia's Vision 2030 goals and strengthen the economic alliance.

The two-day conference, held at the King Abdullah Financial District in Riyadh, will feature 20 ministerial meetings, 130 speakers across 50 dialogue sessions, and 10 workshops. The GREAT FUTURES Initiative will continue with events over the next 12 months, involving participation from innovative UK companies to enhance partnerships in promising sectors.