Saudi Arabia is continuing on its path of major economic reforms, Minister of Finance Ibrahim Al-Assaf said here on Sunday. He was addressing the 4th Forum for Businessmen in Arab and South American countries at the headquarters of the Council of Saudi Chambers. Assaf said that there are many big investment opportunities in numerous fields especially energy and manufacturing industries in the Kingdom. Recently the government opened the way for international companies to invest directly in the Saudi retail market, the minister said at the forum being organized by the Council of Saudi Chambers of Commerce in cooperation with the Arab League and Federation of Arab Chambers of Commerce. Over 350 participants in the forum include government officials, businessmen and ambassadors from Arab and South American countries. They will discuss boosting economic and commercial cooperation and relations between the two sides. Assaf said Arab and South American countries enjoy promising opportunities in all fields like energy, construction and manufacturing industries. He said that this necessitates more cooperation and coordination between the private sectors in the two regions. Al-Assaf said the themes of the forum's deliberations reflect the interest of investors in the two regions to contribute in increasing the volume of trade and investments by taking advantage of the potentials enjoyed by the countries of the two regions. He stressed the importance of strengthening maritime link between the two sides. Minister of Commerce and Industry Tawfiq Al-Rabiah said that cooperation between the two sides in different economic fields will lead to a strong and competitive economic bloc which will contribute to consolidating international relations based on production, cooperation, mutual interests. He said the total population in the two regions exceeds 800 million. Al-Rabiah called for removing the obstacles that hinder trade exchange between the two sides.
