400 U.S.-Saudi joint projects invest $44 billion in the Kingdom

May 22, 2013

During a speech in Dammam today, the Secretary General of the Al-Sharqiyah Chamber of Commerce, Abdulrahman bin Abdullah, stressed the significance of the role played by the Saudi-U.S. Joint Business Council in determining trade partnerships and investment opportunities for Saudi and American companies. He observed that the U.S. is Saudi Arabia’s biggest trading partner, as well as the biggest single investor nation in the Kingdom, and has been for decades. Abdullah noted that the volume of bilateral trade reached $61.3 billion in 2011, an increase of 42.5 percent from 2010. Furthermore, there are currently 400 joint U.S.-Saudi projects in the Kingdom, investing a total of $44 billion.