The President of the ICC Saudi chapter: The Saudi royal visits to Asia enhance and promote economic partnerships.
22 Mar 2017



Yassin bin Saeed Al-Suroor, the President of the ICC Saudi chapter, highly praised the national visits made by King Salman bin Abdulaziz Al Saud to Asian countries, including Malaysia, Indonesia, Japan and China. He said, the royal visits to Asia has achieved promising fruits in fields like economy, and deepened the friendship and partnership between Saudi Arabia and its allies in Asia.



Mr. Yassin bin Saeed Al-Suroor acknowledged the economic achievements with the Saudi Arabian royal visits to Asia. The trips aimed at the goals listed in Saudi Vision 2030, including more economic diversity, lower dependence on crude oil, and more foreign investment. And the nations on the agenda of the royal visits are critical partners with Saudi Arabia to realize the Vision 2030, as they are well equipped in economy, finance and human resources. In addition, their booming markets offer excellent opportunities to Saudi investors.


Saudi Arabia, notably, highly values its economic partnerships and engages itself in diversified cooperation with major economies, especially the ones in Eastern Asia. Such cooperation enlarges the Saudi economic foundation and trade volume. As a member of major international economic organizations, e.g. the WTO and G20, the economic development within Saudi Arabia goes beyond its border and serves the global economic development.


Mr. Yassin bin Saeed Al-Suroor pointed out that the high level of the royal visits and the delegation are a perfect reflection of the value Saudi Arabia puts on its economic development. At the meantime, Saudi Arabia will forge close partnerships with the Asian countries during the visit. Saudi Arabia has also announced a few initiatives that invite these Asian countries to invest in Saudi private sector. Endorsed by Saudi government, the Asian countries are more eager in forming and enhancing the cooperation with Saudi Arabia, on trade, investment, and economy.


Mr. Yassin bin Saeed Al-Suroor expects the Saudi private sector to benefit from the Saudi royal visits to Asia and the agreements signed with the Asian countries. The royal visits offer promising long-term partnerships with the Asian countries and the potential markets for Saudi products. Besides, the royal visits bring collaborative projects with high added value to the Saudi public sector, i.e. the state-owned economy. On one hand, it helps the transfer of technology and collaborative research. On the other, it brings employment and training opportunities to the Saudi labor market.


Given the context, on the Sino-Saudi Investment Forum, the two countries signed multiple agreements on trade. The most important among them is the agreement signed between Yassin bin Saeed Al-Suroor, the President of the ICC Saudi chapter, on behalf of Arab Economic & Business Group, and the Tech Department of NASA China Office. Both parties agreed to establish a astronomy center with VR technology in Saudi Arabia, which offers early access to astronomic knowledge to Saudi children. Yassin bin Saeed Al-Suroor also signed multiple agreements on alternative energy.


In addition, Mr. Li Zhonghang, the Secretary-General of Silk Road Chamber of International Commerce, signed the agreement with Mr. Yassin bin Saeed Al-Suroor representing the ICC Saudi. The head of the Committee of Industrial Parks with the SRCIC signed the agreement with Osma Al-Ola Groups. In this agreement, China agrees to invest 10 billion RMB in 7 projects, including Sino-Saudi Rose Town, Sino-Saudi Tech Industrial Park, and Sino-Saudi e-platform for Cross-border trade.