The 4th Saudi-American Business Opportunities Forum emphasized the importance of strengthening and deepening commercial ties that bind the business communities in both countries and the significance of cooperation between the two governments with regard to strengthening bilateral economic and trade relations and the depth of the historical partnership that extends for decades as the basis for the formation of a partnership in the future. This came at the conclusion of the Forum organized by the Ministry of Commerce and Industry under the patronage of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud in Riyadh during the period from 22 - 23 March 2016. The Forum recommended the support of Saudi-US strategic partnership in the 21th century, which is confirmed by the Government of the Kingdom during the visit of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz to the United States of America in September 2015, and will serve as the main base on which will be established new productive economic and commercial relations between the United States of America and the Kingdom of Saudi Arabia, The forum also stressed the determination of the Kingdom to diversify the Saudi economy in order to create new job opportunities for Saudi citizens, increase local economic growth through the expansion of the areas of current economic activities and create new areas, in addition to enhancing the investment environment in the Kingdom through continuing development of trade legislations and cooperation with the private sector to develop policies and regulations for new businesses; and adopting measures to facilitate the entry of new American companies, especially small and medium-sized ones to the Saudi market in line with the spirit of the strategic partnership between the United States of America and the Kingdom to live up to the challenges and requirements. The United States also confirms its intention to share the government of the Kingdom of Saudi Arabia the historical experience in attracting investment, the development of a society based on knowledge and an economy based on innovation, as well as supporting the fields of research and development and education and training of young people and preparing them to form a new next generation of innovators, scientists, business leaders and government officials in the Kingdom. The Organizing Committee for the Forum expressed its thanks to the participants and the audience at the Forum which establishes a new future of relations between the Government of the Kingdom of Saudi Arabia and the Government of the United States of America. The Forum witnessed 90 meetings, while businesses that were discussed ranged in size between 50 and 60 million US dollars.
