Riyadh, Saudi Arabia — The fourth session of the Saudi-Spanish committee opened in Riyadh, reinforcing a growing focus on Saudi Spain economic cooperation and bilateral development. This meeting builds on the 2022 session in Madrid and aims to solidify economic ties across multiple sectors.
Economic Dialogue and Policy Coordination
Led by Minister of Economy and Planning Faisal bin Fadel Al-Ibrahim and Spain’s Minister of Economy, Trade, and Business Carlos Cuerpo, the session reflects a shared intent to strengthen Saudi-Spanish trade relations. The delegation’s agenda includes enhancing cooperation in logistics, construction, food industries, sports, and tourism.
The Saudi-Spanish Business Forum, held alongside the committee, serves as a vital platform for expanding Saudi Spain investment ties. Organized by the Federation of Saudi Chambers with support from key ministries, it encourages private sector collaboration and introduces investors to high-potential opportunities.
Trade Figures Reflect Robust Saudi-Spanish Trade Relations
According to the General Authority for Statistics, total trade between the two nations reached SAR 22.9 billion by the end of 2024. Saudi exports accounted for SAR 12.4 billion, while imports from Spain stood at SAR 10.5 billion. These figures highlight the increasing momentum behind the Saudi Spain bilateral partnership.
Through structured engagement and forward-looking dialogue, both countries aim to elevate their economic partnership and reduce barriers to investment. The committee seeks to align priorities under Vision 2030 and the EU’s economic diversification strategies.
The Saudi Standard’s View: Building a Trans-Mediterranean Partnership
The Saudi-Spanish committee’s fourth session underscores the evolution of Saudi Arabia’s global economic strategy. By deepening ties with European economies like Spain, the Kingdom continues to diversify its investment network and export portfolio. This collaborative framework not only boosts bilateral trade but also enhances political trust and market connectivity.
As Riyadh positions itself as a strategic investment hub, such dialogues ensure a steady flow of opportunities in both directions. Spain’s strengths in infrastructure, renewable energy, and hospitality complement Saudi Arabia’s development ambitions. This balanced engagement sets the tone for a resilient, trans-Mediterranean economic corridor.
