The Economic and Social Committee of the UK-KSA Strategic Partnership Council held its second meeting yesterday in London. The meeting was headed by Dr. Majid bin Abdullah al-Qasabi, Minister of Commerce, and Kwasi Kwarteng, Secretary of State for Business, Energy, and Industrial Strategy, member of the UK Parliament. During the meeting, they discussed the stimulation of bilateral relations and promotion of cooperation between both countries in fields agreed upon in the Strategic Partnership. The meeting was concluded with a joint statement as follows: The Strategic Partnership Council was established in March 2018 to emphasize and promote relations between the Kingdom of Saudi Arabia and the United Kingdom and commit to a deeper partnership and stronger strategy to promote joint interests. The Council consists of two committees including the Economic and Social Committee and the Political and Security Committee. The second meeting of the Economic and Social Committee of the Council was held in London on 14 July 2021, under the chairmanship of Dr. Majid bin Abdullah al-Qasabi, Minister of Commerce, and Kwasi Kwarteng, Secretary of State for Business, Energy, and Industrial Strategy. During the meeting, constructive and fruitful talks were held on the stimulation of bilateral relations and the promotion of cooperation between the two Kingdoms in the fields agreed upon in the Strategic Partnership. Strategic Partnership for Vision 2030 The United Kingdom has recognized the great economic and social progress since the establishment of the Kingdom's Vision 2030 in 2016 and reemphasized its ongoing commitment to support Vision 2030 and Saudi Arabia's program seeking economic diversification and social reform. Moreover, both countries praised the deliverables of the recent meeting on the economic and social axis held in July 2019. They emphasized their joint commitment to developing trade and investment and achieving welfare in several sectors in favor of the citizens of both kingdoms. The Kingdom of Saudi Arabia and the United Kingdom appointed Khalid al-Falid and Lord Grimstone as investment torchbearers; Dr. Hamad bin Muhammad Al-Shaykh and Sir Steve Smith as education torchbearers; and Mr. Abdulrahman bin Ahmed Al-Harbi and His Excellency Jayawardena as trade politics torchbearers, along with the current torchbearers. This confirms the importance of strengthening bilateral relations to both Kingdoms to support communication between both nations and provide further cooperation on the level of economic and social opportunities. The heads of the Committee, who recently met in Riyadh in May 2011, were keen on driving the cooperation of the Economic and Social Committee forward; the committee was divided into four main groups.
First group: Trade, Investment, Financial Services: The Committees's head highlighted the big trade volume between the Kingdom of Saudi Arabia and the United Kingdom over the past few years. Moreover, they discussed the means to promote cooperation in the field of trade and financial services, particularly in the fields of financial technology, open banking services, and green funding. Moreover, they discussed priority investment areas in the Kingdom of Saudi Arabia and the United Kingdom. Joint action between both countries is expected to include new areas for strategic partnerships, such as the visit of Dr. Majid al-Qasabi to London, where he attended the Sustainable Investment Summit and hosted by Londons Mayor, to discuss investment opportunities that support the most sustainable sectors.
Second group: Education and Healthcare: The Kingdom of Saudi Arabia and the United Kingdom were keen on promoting education partnerships between the Kingdom of Saudi Arabia and the United Kingdom. They praised the progress achieved so far, including the identification of short-term priorities consisting of training and development in the field of special education needs and vocational training and education. Moreover, the Kingdom of Saudi Arabia praised the UK's expertise in the field of education and expressed its gratitude to Sir Steve Smith, Special Representative of the UK, for his action including his recent visit to the Kingdom. Since the establishment of the Strategic Partnership, several memoranda of association were concluded between leading healthcare institutions in the Kingdom of Saudi Arabia and the United Kingdom to support the goals of Vision 2030. Both sides agreed on seeking further cooperation in several fields including preparation for epidemics, healthcare technology, healthy weight and diet, and the development of the entire healthcare system.
Third group: Energy, Industry, and Environment: Over several decades: The Kingdom of Saudi Arabia and the United Kingdom had friendly relations in the field of energy and shared an expanding joint interest in climate issues, following the last meeting between His Royal Highness Prince Abd-al-Aziz Al Saud, Minister of Energy, and His Excellency Kwasi Kwarteng in May 2021. Several cooperation areas in the field of energy were identified under the umbrella of the circular carbon economy that consists of detaining, using, and storing carbon; hydrogen; clean fuel; direct air capture; and renewable energy sources. Moreover, both countries are seeking to cooperate in the fields of climate and environment, particularly to build capabilities and share expertise. Moreover, new partnership opportunities were discussed such as cooperation in the field of space, mining, pharmaceuticals, and aviation. It is worth noting that 2021 was particularly important as the United Kingdom chairs the COP26 conference and the expected visit of Alok Sharma to the Kingdom of Saudi Arabia to confirm previously agreed upon commitments to cooperate in building climate and environment capabilities and exchange expertise. Moreover, we appreciate the Green Saudi and Green Middle East initiatives as important steps that contribute to the Kingdom's ambitions in terms of climate and economic diversification agenda, not to mention the promotion of the circular carbon economy approach to achieve the long-term goal of the Paris Agreement. Moreover, they agreed on cooperating to achieve an ambitious and comprehensive outcome in the COP26 Conference in such a way as to accelerate climate action, while ensuring no disruption or lagging behind, relying on the G20s leadership during the Kingdom of Saudi Arabia's term to fully enforce the Paris Agreement. Furthermore, both parties commit to treating climate change by easing and adapting to the impact, including maintaining the average global temperature increase below two degrees Celsius and continuing efforts to limit it to no more than 1.5 degrees Celsius above levels prior to the industrial era in the context of sustainable development and eradication of poverty. We are also committed to promoting climate action before the COP26 conference that raises ambitions in the twenties of the 21st century and complies with the development of long-term comprehensive strategies that maintain the realization of the above-mentioned goals.
Fourth group: Culture, Sports, and Tourism: The Kingdom of Saudi Arabia and the United Kingdom are keen on establishing distinguished relations between both nations by developing culture, tourism, and sports opportunities. Moreover, the agreements concluded between the Kingdom of Saudi Arabia and the United Kingdom, including the Ministry of Culture, Ministry of Tourism, Ministry of Sports, and the General Entertainment Authority with entertainment institutions in the United Kingdom will contribute to developing cooperation further. In particular, both Kingdoms aspire to deepen partnerships in the sector of films, heritage, art, entertainment, and mass participation in sports.