FINANCIAL NEWS

Saudi plans to increase exports to UK

27 Mar 2012

(MENAFN) Saudi Commerce and Industry Minister, Tawfiq Al-Rabiah, said that in order to increase trade exchange between the country and the UK, the Kingdom plans to boost exports to the EU country, reported Arab News.

Al-Rabiah added that several UK firms are operating in Saudi Arabia, mainly in the industrial and service sectors, making Britain the third largest investor in the Gulf nation

On the other hand, he said that the Kingdom plans to develop its trade regulations to promote investment, protect consumers and achieve justice.

It is worth noting that trade between the two countries stands at USD4.53 billion at the current time, according to the minister.

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