COUNTRY FOCUS
“Saudi Arabia is a key strategic partner for the UK and we are looking for ways to enhance that bilateral relationship, which has deep historical roots,” says Sir Tom Phillips, British Ambassador to Saudi Arabia. “The fact that we are both countries with monarchies creates a special link, as I saw for myself during the Duke of York’s visit in the autumn. Trade is obviously a key part of the relationship and was at the heart of the visits by the Duke of York and Lord Green, Minister for Trade and Investment, and we have much to build on following those events. “UK companies bring quality and long- term commitment, but the relationship goes beyond trade to areas such as defence, security, co-operation on key regional and international issues, energy, counter-terrorism, education and so on, not forgetting sport. “We are all looking forward to seeing Saudis in London for the 2012 Olympics and Paralympics, both as participants and spectators. Then there is culture – it is excellent news that Saudi Arabia, through the efforts of the King Abdulaziz Library based in Riyadh, will be contributing to the Hajj exhibition at the British Museum, opening in January.”
TURN UP THE VOLUME A growing number of UK companies are targeting Saudi Arabia, according to Dominic James, director, Middle East and Africa, at British Expertise, (
britishexpertise.org) which promotes the interests of UK fi rms. “It is much more welcoming to UK companies than before,” he says, “and far easier to establish a branch offi ce. “There is huge investment in schools, hospitals and higher education, as well as major transport projects, such as airports, ports and railways. Many major projects have started and will continue for many years to come. It is the sheer volume of the work that
“SAUDI ARABIA IS A KEY STRATEGIC PARTNER FOR THE UK AND WE ARE LOOKING FOR WAYS TO ENHANCE THAT BILATERAL RELATIONSHIP”
makes it so attractive in business terms.” He continues: “The high price of oil is enabling the Saudi government to invest in big capital projects and the Arab Spring has been a factor in persuading it that people need good employment opportunities and infrastructure.” Compared to its neighbours, Saudi Arabia has not historically had an entrepreneurial culture. A large number of nationals are employed by government ministries and there is a drive to increase private sector jobs. “This is a key area for UK/Saudi collaboration,” says Chris Innes-Hopkins, director of trade and investment in Saudi Arabia. “The Saudi Minister of Labour visited the UK in April to look at UK experience of employment generation and welfare-to-work schemes. UK consultants and training providers are now working closely with the ministry on pilot job centres and upgrading vocational training.”
ENERGY AND BEYOND Oil and gas are central to the Saudi economy. Saudi Aramco (saudiaramco. com) plans to spend around $120bn over six years developing projects in the oil, gas and petrochemicals sectors. Around 3,000 UK companies are approved Saudi Aramco vendors and UK sales exceed $100m. The fi rm will also play a major role in meeting a growing domestic demand for natural gas – mainly for petrochemical feedstock, power generation, water desalination and industrial fuel.
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