The Saudi General Authority of Foreign Trade (GAFT) concludes its participation in the 4th Tbilisi Silk Road Forum titled “Connecting Today, Resilient Tomorrow," headed by His Excellency International Relations Deputy Governor, Mr. Abdulaziz AlSakran. The forum was held for two days, October 26–27, 2023, in Tbilisi, Georgia, with the attendance of Their Excellences and the participation of a delegation from the private sector.
The aim of the forum was to enhance partnership and mutual interest with international partners present at Silk Road, with more than 2000 participants, five primary meetings, five secondary meetings, and several side events for the forum.
The Authority's participation in the forum was driven by the Kingdom's interest in enhancing its partnerships with participating countries, the importance of enriching trade cooperation, increasing the level of mutual and joint investments, and strengthening the Kingdom's partnership with Georgia by seizing the integration and investment opportunities provided by Vision 2030.
The forum was accompanied by the signing of an agreement to establish a Saudi-Georgian Business Council, which aims to introduce each country's representatives to the climate and opportunities for direct and indirect investment, encourage mutual visits between businessmen in both countries, and consolidate economic relations between both countries.
The volume of trade exchange between the Kingdom and Georgia has reached 206 million riyals in 2022, with plastics and their manufactures ranking the most important Saudi exports and carpet being the most important Saudi imports from Georgia.
It is worth noting that the Authority's objective is to enhance the Kingdom's international trade gains and defend its interests in foreign trade fields, thereby developing its national economy.