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LONDON: There are huge Saudi investments in the UK and they amount to nearly 60 billion pounds, according to Minister of Commerce and Investment Majid bin Abdullah Al-Qassabi.
The minister made the remark following participation in the work of the second Gulf-British Economic Forum, organized by the Arab-British Chamber of Commerce, in London.
In a statement to Saudi Press Agency (SPA, he lauded the bilateral commercial ties and pointed out that the official Arab and British attendance at the forum indicates the status of importance that both sides attach to the development of cooperation, in various trade and investment fields.
He explained that Britain is a historical friend and ally of the states of the region and there must be concerted efforts to discuss the opportunities and challenges that contribute to the development of investment bridges between the two sides, especially after Britain's decision to leave the European Union (EU).
Referring to the large expansion that has occurred in trade and investment cooperation between the Gulf and Britain in education, defense and other investment activities, the minister noted that Saudi investments in the UK are huge and the Kingdom's participation in such and other international forums is due to the government of the Custodian of the Two Holy Mosques King Salman, which has adopted policies that encourage marketing and investment opportunities. This is in line with Saudi Vision 2030, the minister added.
He mentioned that Saudi investments in the UK amounted to nearly 60 billion pounds in various domains.