The annual meeting of the World Economic Forum “Davos 2026” witnessed intensive diplomatic and economic activity for the Kingdom of Saudi Arabia, as the Minister of Economy and Planning, Professor Faisal bin Fadel Al-Ibrahim, held an important meeting with the German Minister of Economy and Energy, Katharina Reiche, within the framework of the Kingdom’s endeavor to strengthen its international partnerships and diversify the sources of its national economy.
Strengthening economic partnerships in Davos
During their meeting on Thursday, held on the sidelines of the forum, the two sides discussed ways to enhance economic and trade cooperation between Riyadh and Berlin. The meeting also addressed the promising investment opportunities offered by Saudi Arabia's Vision 2030 and how German companies can benefit from the Kingdom's attractive investment environment, particularly in the renewable energy, industrial, and technology sectors.
The depth of Saudi-German relations
This meeting builds upon a long history of strong economic relations between the Kingdom of Saudi Arabia and the Federal Republic of Germany. Germany is a key trading partner for the Kingdom in Europe, and bilateral relations are characterized by continuous growth in trade volume. Through these meetings, the Kingdom seeks to localize advanced German technologies and benefit from Germany's extensive experience in the industrial and engineering sectors, which directly contributes to the objectives of the National Transformation Program.
The importance of timing and global context
This meeting at Davos 2026 is of particular importance given the economic and geopolitical challenges facing the world, which necessitate close coordination among the major economies (G20) to which both countries belong. Current cooperation focuses heavily on clean energy and green hydrogen, with the Kingdom aspiring to be a leading supplier of clean energy to Europe, while Germany seeks to secure sustainable and reliable energy sources for its industries.
Expected impact and future of cooperation
These discussions are expected to accelerate joint efforts and open new horizons for the private sector in both countries. The meeting also reflects the Kingdom's commitment to playing a leading role in shaping the future of the global economy through active participation in international forums such as the Davos Forum, and by proposing initiatives that contribute to economic stability and sustainable growth at both the regional and international levels.
