The Saudi-Tunisian Business Forum concluded its activities , emphasizing the need to move economic relations between the two countries from the stage of traditional trade exchange to the stage of economic integration and sustainable strategic partnership.
The forum witnessed a high-level attendance represented by the Saudi Minister of Industry and Mineral Resources, Bandar bin Ibrahim Al-Khorayef, and the Tunisian Minister of Economy and Planning, Dr. Samir Abdel-Hafiz, reflecting the strong political will of both sides to enhance joint cooperation.
Historical context and deep-rooted economic relations
This step comes as a continuation of the long-standing fraternal relations between the Kingdom of Saudi Arabia and the Republic of Tunisia, with the Kingdom being a key economic and development partner for Tunisia. Cooperation between the two countries is not limited to trade exchange, but extends to financing development projects through Saudi funds, and direct investments in the tourism, real estate, and agricultural sectors. This forum aims to reshape this relationship in accordance with the realities of the modern global economy, focusing on quality investment and value-added industries.
A dialogue platform to promote sectoral partnerships
The forum served as a dynamic interactive platform, bringing together over 300 participants, including decision-makers, business leaders, and representatives from both the public and private sectors in both countries. Discussions focused on translating shared visions into tangible projects, exploring opportunities for collaboration in key priority sectors, most notably:
- Industry and Mineral Resources: Leveraging Saudi expertise in mining and manufacturing industries.
- Food security and agriculture: Investing in Tunisian agricultural assets to strengthen food supply chains.
- Energy and Sustainability: Focusing on renewable energy projects and electrical interconnection, in order to serve the goals of zero neutrality and environmental sustainability.
Strategic importance and regional influence
This event holds significant strategic importance in light of global economic shifts. For the Kingdom, strengthening cooperation with Tunisia is part of the objectives of Vision 2030, which aims to diversify income sources, increase non-oil exports, and open new markets for Saudi products in North Africa. For Tunisia, attracting Saudi investments represents a crucial boost to the national economy, creating jobs and developing industrial infrastructure.
At the regional level, this rapprochement contributes to strengthening the system of joint Arab action and opens up prospects for increasing intra-Arab trade, which enhances the resilience of Arab economies in the face of global crises and supply chain disruptions.
Process outputs and institutional agreements
The forum concluded with the signing of a strategic memorandum of understanding between the Federation of Saudi Chambers and the Tunisian Union of Industry, Trade and Handicrafts. This memorandum aims to formalize cooperation between the two business sectors, facilitate the exchange of information on investment opportunities, and overcome obstacles that investors may face, thus paving the way for increased joint investments in the coming period.
During the sessions, the Saudi side reviewed the competitive advantages of the investment environment in the Kingdom and the incentives offered to foreign investors, inviting Tunisian companies to take advantage of the promising opportunities provided by the economic renaissance that the Kingdom is witnessing.
