The capital, Riyadh, hosted the Saudi-British Roundtable on 9 December 2024, attended by UK Prime Minister Keir Starmer, Saudi Minister of Investment Khalid bin Abdulaziz Al-Falih, Saudi Ambassador to the United Kingdom Prince Khalid bin Bandar bin Sultan bin Abdulaziz, and Minister of Commerce Dr. Majid bin Abdullah Al-Qasabi, alongside a host of senior executives from the government and private sectors.

A Shared Vision for Strengthening Economic Cooperation

Discussions centered on promising economic and investment opportunities between the two countries across several fields, including:

  • Financial services, where both sides stressed the importance of promoting sustainable finance and improving access to capital markets.
  • Clean energy, with focus on projects such as Al Fanar Green Fuel's project in Britain, expected to become Europe's largest producer of sustainable aviation fuel.
  • Healthcare, with discussions on establishing 4,000 new primary healthcare clinics in Saudi Arabia involving British expertise.
  • Education and innovation, through supporting academic exchange and expanding the number of British schools in the Kingdom, alongside investing in Saudi talent, with more than 14,000 Saudi students currently studying in Britain.

Boosting Investment in Line with Vision 2030

These efforts align with Saudi Vision 2030's goals of diversifying the economy and opening new avenues for foreign investment. Saudi investments in the United Kingdom reached SR40 billion by 2022, while British investments in the Kingdom reached SR18 billion by 2023. Sixty British companies have also opened regional headquarters in the Kingdom, underscoring the mutual trust between the two sides.

Record Figures in Trade Exchange

Bilateral trade between the two countries reached a record SR78.9 billion in 2023, with expectations that the figure will grow further thanks to the comprehensive free trade agreement between the United Kingdom and the Gulf Cooperation Council states.

A Leap Forward in Mega-Projects and Innovation

The roundtable also highlighted investment opportunities in giant projects such as NEOM, which opened its first international office in Britain last year, and the Saudi-British Technology Center, established in 2022 to strengthen cooperation in advanced technology and innovation.