Belgian-Luxembourg Economic and Trade Mission in Saudi Arabia
Save the date! from the 12th to the 18th of March 2022, a multi-sector Economic & Trade Mission will be organized by Wallonia Export & Investment Agency (AWEX) in collaboration with the Arab-Belgian-Luxembourg Chamber of Commerce (ABLCC), and the Chamber of Commerce of Luxembourg (CCLU) with the support of the Embassy of Belgium in the Kingdom of Saudi Arabia.
A delegation of close to 100 businessmen and women representing 60 companies from Belgium and Luxembourg will be travelling to 3 cities – Riyad, Jeddah, and Dammam – as part of a mission to strengthen business partnerships and foster trade ties between the Kingdom of Belgium, the Grand Duchy of Luxembourg and the Kingdom of Saudi Arabia.
Strategically located at the crossroads of three continents, Asia, Europe and Africa, the Kingdom of Saudi Arabia is aiming to become a global hub and a gateway to the world. First economic power of the Middle East, the Kingdom is the richest Arab country (1st regional economy and 19th world-wise). Taking advantage of a large budget surplus, the country is currently taking a giant leap through the digitalization of its public services and the launch of gigantic infrastructure projects. These projects are part of the Vison 2030 roadmap, which aims to challenge the foundations of the traditional economy to push investment in innovative sectors. Real drive of this economic transformation, the launch of mega projects such as Neom, The Red Sea Project, Amaala, Qiddiya, AlUla and others aim to open new areas of economic activity and stimulate local and foreign investment, creating a myriad of opportunities for Belgian and Luxembourg businesses.
In recent years, the country has also implemented structural reforms to promote trade. Incredible changes have taken place in economic regulations, ranging from PPPs to international arbitration, creating a level playing field for domestic and international players, going through massive intellectual property reforms and even bankruptcy law reforms while visas and e-visas are easier than ever to obtain.
Thus, and for the first time in its history, this market of 34 million inhabitants is now experiencing a period of unprecedented socio-economic changes and is fully counting on the diversification of the economy to free itself from its dependence on oil.
This mission will therefore be an opportunity for the participating companies to seize the exceptional opportunities offered by the "Vision 2030" roadmap while taking advantage of the network, expertise, and logistical organization of AWEX, ABLCC and CCLU.
Focused on Vision 2030’s three main pillars – A Vibrant Society / A Thriving Economy / An Ambitious Nations – this business delegation hopes to reap the benefits of the unique momentum created by the reforms engaged by the Kingdom to transform its economy with a clear social impact. Indeed, it will cover the following 7 sectors: health, environment & energy, entertainment, food & agriculture, construction, and transport & logistics. Each sector will therefore benefit from a specific tailor-made programme, including sectorial (collective visits, individual B2B meetings, seminars, etc.) as well as cultural and networking activities.
The Wallonia Export & Investment Office in Riyadh is in charge of organizing the matchmaking with Saudi companies and organizations wishing to meet Belgian and Luxembourg participants present in March. For more information, please contact us at [email protected].