RIYADH: European investments in Saudi Arabia are set to see notable growth over the next five years, encompassing green energy, metals, critical raw materials, advanced industry, and the digital sector.
Christophe Farnaud, the EU Ambassador to Saudi Arabia, confirmed to Al-Eqtisadiah that an anticipated memorandum of understanding with the Kingdom in the energy field will provide an organized framework for cooperation in energy transition and sustainability, boosting investor confidence in the long-term partnership between the two sides.
The volume of trade in goods and services between Saudi Arabia and the EU amounts to €90 billion ($105.6 billion), according to the latest data from 2024, making the EU the Kingdom’s second-largest trading partner, according to Farnaud.
Currently, 2,500 European companies operate within the Saudi market, highlighting the depth of economic relations between the two sides.
A qualitative development in relations
