Saudi-Arabia

Saudi-Arabia is the largest Arabian economy. Through a resolute economic reform course, the kingdom has enhanced its attractiveness to foreign companies over the past few years.

With a gross domestic product of approx. USD 480 billion (2008), Saudi-Arabia is the largest Arabian economy. Through a resolute economic reform course, the kingdom has enhanced its attractiveness to foreign companies over the past few years. According to the World Bank, Saudi-Arabia has the friendliest business climate in the region.

Economic opening and comprehensive investment in strategic diversification of the Saudi economy also provides excellent business opportunities for German companies. Examples of major investment include the oil and gas sector, the petro-chemistry industry, the steel and aluminium industry, as well as the energy and transport infrastructure sectors, to mention only a few.

The BDI actively supports the promotion of German-Saudi economic ties. Information and communications events as well as high-level meetings between the worlds of business and politics, in the form of the German-Saudi Joint Economic Commission (GWK) for example, provide opportunities to give reports on current business opportunities and to position economic policy concerns. In addition to double taxation issues, the main focus is on the negotiations for a free trade agreement between the EU and the Gulf Cooperation Council (GCC) in which Saudi-Arabia plays a key role.