Swiss State Secretary
The Cleantech Forum as an Opportunity to Reflect Saudi-Swiss Ties
Please, discuss your visit to Saudi Arabia and in the Cleantech Forum.
This was my first visit to Saudi Arabia as State Secretary for Economic Affairs. The main purpose of this visit is to see first-hand the implementation of Vision 2030 and study where Switzerland and Saudi Arabia can best cooperate. In fact, Switzerland has been voted the most innovative country in the world for over ten years in a row. Therefore, bringing people and ideas together is important to accelerate innovation, and I think the Cleantech Forum has been a success in that regard.
In addition to some world-renowned corporations, the Swiss business landscape consists of many highly innovative small and medium-sized companies, some of which are world champions in their field. It is important to harness their potential while paying attention to how we can improve their contribution to Vision 2030. For this reason, I participated in two business events on infrastructure and cleantech, where 20 infrastructure companies and 15 cleantech startups from Switzerland and Swiss research institutes were represented.
Could you please elaborate with regards to the cooperation between the Swiss Embassy and the King Abdulaziz City of Science and Technology (KACST) in organizing this forum?
As a beacon of innovation and know-how, the KACST plays a key role in advancing the nation’s cleantech initiatives. Through its cutting-edge research and adherence to sustainable solutions, KACST highlights Saudi Arabia’s commitment to a greener future and positions the country as a global leader in clean technology development. It was, therefore, natural for the Swiss Embassy to collaborate with KACST in organizing the Cleantech Forum. Last but not least, I also enjoyed meeting the President of KACST, H.E. Dr. Munir Eldesouki.
What are your thoughts about Saudi Arabia and Switzerland working together under Vision 2030 on economic and trade initiatives?
Bilateral economic relations between Switzerland and Saudi Arabia are strong and constantly evolving. However, as Saudi Arabia moves forward with its Vision 2030, numerous opportunities for cooperation arise. It is important that Switzerland and Saudi Arabia provide the necessary framework conditions for economic activity, that is, have reliable free trade and investment agreements on which the private sector can count.
I have met with various Saudi government officials to understand what more we can do to make them good for business and will continue our communications to act as a facilitator, creating platforms for dialogue and partnership. The fruits of our collective efforts ultimately depend on the commitment and innovation of our business communities. It is critical that the private sector, especially individual businesses, take a leading role. They bring projects to tangible results, adapt to market dynamics and lead collaborations to success.
Would you provide figures on mutual exports and imports?
Over the past three decades, trade has more than doubled, with Saudi Arabia becoming one of Switzerland’s most important trading partners in the Middle East. For example, in 2022, bilateral trade exceeded 6.4 billion USD (5.6 billion CHF), up to 80% increase from 2021. 2023 looks even better as our trade data for the first half of 2023 is already 25% ahead of last year’s trade data for the same period. Switzerland is an important foreign investor in Saudi Arabia, with about 100 Swiss companies having a permanent presence in the country, which created thousands of high-skilled jobs in Saudi Arabia. These are impressive numbers, but the potential is far from being exhausted.
How do you envision the future development of bilateral trade?
As I already mentioned, the Swiss business landscape consists of many innovative small and medium-sized companies, some of which are world champions in their field. A Swiss business delegation specializing in infrastructure projects is currently visiting the Kingdom. This is not the first time, and we hope that many more such delegations will come to Saudi Arabia. In addition, H.E. Minister Al-Falih and H.E. Minister Al-Khorayef visited Switzerland this year to meet with Swiss business leaders and explain how the Kingdom is reforming and opening up for business.
Could you describe Saudi Arabia in one or two sentences and your impression of the ongoing reforms?
Watching Saudi Arabia personally, the changes taking place are breathtaking. I truly feel the country is opening up – not only economically, but also socially. By diversifying its economy, fostering innovation, and investing in its people, Saudi Arabia is creates sustainable growth and positions itself as a key global player in the 21st century. At the same time, the country’s increasingly important economic and political role in the region and beyond comes with a responsibility to promote stability, security and prosperity. Thus, Vision 2030’s holistic approach to development, encompassing economic, social and cultural dimensions, is indeed commendable and sets a benchmark for visionary leadership.
