The Saudi-Swedish Joint Committee held its third session in Riyadh on November 4–5, 2024, under the chairmanship of Mr. Abdulaziz Alsakran, Deputy Governor of the Authority for International Relations and Ms. Camilla Melander, DG of Trade at the Swedish Ministry of Trade.
The meeting aims to strengthen and develop bilateral relations between the Kingdom of Saudi Arabia and the Kingdom of Sweden in various areas, to resolve challenges and obstacles to intra-country trade, and to discuss ways of strengthening cooperation, particularly in the areas of trade, investment, economy, energy, technology, industry, education, health, tourism, sport and other areas, (45) Initiatives were agreed upon between the two sides.
Alsakran stressed that Saudi Arabia is deepening and developing its trade relations with its partners, and the intention of the two countries to strengthen their relations in various fields, noting the need to overcome any obstacles that may limit the investment and trade between the Kingdom and Sweden.
The Saudi-Swedish Joint Commission, which began in 2017, is held periodically every two years, aiming to strengthen trade relations between the two countries and resolve common challenges and constraints.
With the participation of Ministry of Energy, Ministry of Foreign Affairs, Ministry of Culture, Ministry of Tourism, Ministry of Investment, The Ministry of Municipal and Rural Affairs, Ministry of Communications and Information Technology, Ministry of Industry and Mineral Resources, Ministry of Economy and Planning, Ministry of Health, Ministry of Education, Saudi Central Bank, The Saudi Data & AI Authority, General Authority for Defense Development, Royal Commission for Jubail & Yanbu, Transport General Authority, Zakat, Tax, and Customs Authority, Saudi Standards, Metrology and Quality Organization, Saudi Authority for Intellectual Property, Small and Medium Enterprises General Authority, National Center for Non-Profit Sector Development, Saudi Center for International Strategic Partnerships, Saudi Esports Federation, Saudi Federation for Cyber Security and Programming, Public Investment Fund, Saudi Export-Import Bank, Federation of Saudi Chambers, Saudi-Swedish Business Council, and number of Swedish government entities.
The trade exchange between the Kingdom of Saudi Arabia and the Kingdom of Sweden reached about $1.7 billion in 2023. The most Saudi goods exported to Sweden are plastics and automated machines, tools, and its parts thereof, while iron, steel, and pharmacy products are the most imported Swedish goods.
GAFT promotes the Kingdom's international trade gains and defends its interests in the areas of foreign trade, thereby contributing to the development of its national economy.