Economics Ministry of the German state Baden-Wuertemberg is holding a
seminar today on investment in Saudi Arabia. The seminar, entitled
“A Business Day...Saudi Arabia” is expected to attract a large
number of German businessmen and investors.
place in Stuttgart, the capital of Baden-Wuertemberg, the seminar
comes after visits from Germany to Saudi Arabia by high-ranking
delegations. The visits aimed at boosting cooperation in industrial,
investment and business fields of mutual interest. Earlier attempts
along the same lines were made by both governments but enthusiasm
Al-Sayarri, secretary-general of
the Saudi-German Economic Liaison Office (SAGECO), told Arab
News: “This seminar is very important and comes as a result of a
series of visits by German officials in recent years. The seminar is
especially significant in that it is an initiative from the local
government and not a political decision by the federal government.”
continued, “This step shows that the interest of officials who have
visited the Kingdom is increasing; they have realized the importance
of the Saudi market and the potential for industrial and business
opportunities in the region.”
described the seminar as “educational” and said it would provide
information for German businessmen and investors concerning
opportunities in the Kingdom.
describe the relationship between the Kingdom and Germany as “strong
and stable but limited.”
Germany’s economy, the strongest of the 12 euro countries,
depends largely on production and exports. The 16 German states, each
with a large infrastructure, vary in their business interests
depending mainly on skilled labor and existing traditional firms.
Baden-Wuertemberg, for example, is one of the four richest states and
is the headquarters for Mercedes Benz. In addition, small- and
medium-size enterprises play an important role in boosting the economy
by creating some 80 percent of the jobs in the market.
has about 3.8 million small- and medium-size enterprises.
Werner Lauk, charge d’affaires at the German Embassy in Riyadh:
“It is very important that small- and medium-size enterprises are
the main sources for creating jobs. And we hope that with more of
these enterprises operating in the Kingdom, more jobs can be created
which would also respond to the long-term strategy of the Saudi