Saudi Gazette report

RIYADH — Saudi Arabia and Palestine agreed to establish the first Saudi-Palestinian Business Council aimed at increasing the volume of trade and investment exchanges between the two countries.

The agreement was reached during the meeting between Hassan Al-Huwaizi, chairman of the Federation of Saudi Chambers, and Mazen Ghanem, Palestinian ambassador to Saudi Arabia, in Riyadh on Tuesday.

Speaking on the occasion, Al-Huwaizi said that the private sector in Saudi Arabia is keeping pace with the directives of the wise leadership in supporting the Palestinian people and enabling Palestinian business owners to invest in the Kingdom and market Palestinian products and industries in Saudi markets. He pledged the federation's support for holding exhibitions and conferences to introduce and market Palestinian products with the participation of the chambers of commerce in the Kingdom.

For his part, Ambassador Ghanem said that the meeting approved practical steps towards enhancing Saudi-Palestinian trade cooperation, including arranging meetings and visits between investors from the two countries, holding an exhibition of Palestinian products in the Kingdom, and forming specialized committees from both sides to achieve the desired goals.