RIYADH: The GREAT Futures Initiative Conference聽is set聽to begin on Tuesday in King Abdullah Financial District聽with the mission of enhancing聽economic relations between 海角直播 and the UK.聽聽
鈥淭oday the largest UK business delegation in over a decade lands in Riyadh for GREAT FUTURES, with over 400 delegates from the UK traveling to 海角直播, 70 percent of whom have never visited the Kingdom,鈥 British Ambassador to 海角直播 Neil Crompton told Arab News.
鈥淥ver the next two days, senior leaders from both our kingdoms will forge partnerships that span our economies, from cultural institutions to cutting-edge technologies,鈥 he said. 鈥淭hese partnerships build on existing bonds in聽the fields of聽security and energy. The UK is committed to聽playing its part聽in the transformational Vision 2030.鈥
The GREAT Futures Initiative Conference is a joint project organized by the UK government鈥檚 GREAT Britain and Northern Ireland campaign in partnership with the Saudi government.聽
The conference聽is part of the Saudi-British Strategic Partnership Council, co-chaired by Crown Prince Mohammed bin Salman聽and聽UK Prime Minister Rishi Sunak.聽
British聽Deputy Prime Minister Oliver Dowden聽will represent the UK at the conference.聽
鈥淭he GREAT Futures Initiative Conference is an important opportunity to build partnerships between the business sectors of both countries, keeping pace with the future, innovation and creativity,鈥 Dowden said. 鈥淚t also allows British companies to familiarize themselves with relevant business regulations, incentives, and advantages for conducting business in 海角直播.鈥
The conference聽will welcome 800 participants from the two kingdoms鈥 public and private sectors.聽
UK Ambassador Neil Crompton posted a video on X social media platform in the lead-up to the conference.聽
鈥淭his festival marks a significant event in the British calendar, as it takes place once every two years in a city around the world,鈥 Crompton said. 鈥淭his year, we chose to hold it in Riyadh due to the widespread British interest in the positive changes and聽opportunities,聽which came as a result of the success of Vision 2030.鈥
The ambassador said that the embassy would be hosting a British delegation comprising representatives from 400聽companies,聽under the patronage of the British deputy prime minister.聽
鈥淚聽am looking聽forward to meeting athletes, artists, celebrities, and entrepreneurs from聽both聽our kingdoms.聽I聽would like聽to聽extend my thanks to聽our partners in the Saudi government for cooperating with us on this joint project,鈥 he said.聽
The two-day conference, from May 14 to May 15, will feature 47 sessions and workshops with 127 speakers from both public and private sectors.
The conference aims to enhance cooperation and economic partnership in 13 sectors聽such聽as tourism, culture, education, health, sports, investment, trade, and financial services.
Agreement signings聽are also expected聽in聽education and training, tourism, and real estate development.
KAFD鈥檚聽centrally located business district will host the two-day conference in its 28,000 sq. m venue.聽
Gautam Sashittal, CEO of King Abdullah Financial District Development and Management Co., highlighted the significance of the conference聽being聽hosted聽in KAFD.
鈥淗olding a spectacle of this magnitude can never be classified as a roadshow held by British stakeholders for their Saudi counterparts to hop on and make聽millions聽if not billions,鈥 Sashittal said. 鈥淥n the contrary, this event is just a kickstarter for a year-long campaign聽aimed at creating聽an everlasting collaboration that reimagines key domains while unearthing hidden jewels rooted in both countries鈥 glorious pasts.
鈥淎s one of the few places where the Kingdom鈥檚 exciting next phase is getting written, it was quite natural for the choice to fall on KAFD and its architectural marvel,聽which聽is聽otherwise聽known as the conference center,鈥 he said.聽
In 2023, bilateral trade between 海角直播 and the UK increased by 68 percent, amounting to $17 billion, according to the chairperson of the Saudi British Joint Business Council, Jennie Gubbins.
The increase in trade could not be attributed to the oil sector alone, Gubbins said, pointing to the effectiveness of the Kingdom鈥檚 economic diversification efforts and the development of other industries, primarily in the tech field.
The Saudi Ministry of Commerce will participate in the conference and through its sub-entities will facilitate meetings of leaders of the business sectors in the two countries.
As a part of the conference, accompanying events will be held over the next 12 months to enhance partnerships in promising and emerging fields between the two countries.
The ministry aims to inform the British business sector of the economic reforms that the Kingdom has accomplished to improve the business environment and facilitate the start and practice of economic activities.
The 鈥淕REAT Futures鈥 also aims to be a platform for exchanging qualitative experiences and learning about the latest practices across sectors.
