Minister of Energy, Industry and Mineral Resources Engineer Khaled Al-Falih met with a number of German officials in the government and private sectors here recently. Al-Falih's meetings in the German capital came following his participation in the Petersburg Climate Dialogue VII. Al-Falih met with German Minister of Foreign Affairs Dr. Frank-Walter Steinmeier and Federal Minister of Economic Affairs and Energy Sigmar Gabriel. At the beginning of the meeting, the German Foreign Minister offered his condolences to the government and people of the Kingdom on the victims of the suicide bombings that took place in Jeddah, Madinah and Qatif resulting in a number of martyrs. He confirmed that Germany is standing side by side with the Kingdom and the international community in countering extremism and terrorism. Al-Falih said his visit aims through the Petersburg Climate Dialogue VII and the accompanying meetings to explain the Kingdom's climate and petroleum policies, benefit from the German experience in renewable energy and acquaint German officials with Saudi Vision 2030. The two German ministers Steinmeier and Gabriel expressed their admiration for Saudi Vision 2030 and the efforts of Custodian of the Two Holy Mosques King Salman and the Crown Prince to place the Saudi economy in the forefront. They also praised the Deputy Crown Prince for this vision, which is deemed a real opportunity for diversifying the Saudi economy and achieving its advancement. They confirmed their country's keenness to become a strategic and trade ally and support this vision through investments by German companies in the Kingdom's industrial and energy sectors and cooperate in the field of training and developing the skills of Saudi young men and women. The German Federal Minister of Economic Affairs and Energy Sigmar Gabriel expressed his ministry's readiness to acquaint the pertinent institutions in the Kingdom with the German experience in generating renewable energy. He said Germany is considered a pioneering country in this field in the world. He mentioned Germany's important experience in the manufacturing industries, the means to support small and medium-sized enterprises (SMES), institutional development, privatization of the electricity sector, improving the efficiency of energy consumption and financial efficiency. Al-Falih briefed the German foreign minister on the developments in the oil market. He stressed that the petroleum markets are moving towards achieving a balance and stable prices. The two sides confirmed their keenness to achieve stability in the petroleum market so as to serve the interests of producers and consumers such that it enables achieving sustainability in the investment projects in order to meet the growing demand in the energy sector. Al-Falih said the Kingdom always strives to achieve stability of the oil market and the global economy by ensuring the flow of oil supplies. He further said that the Kingdom has always tried to maintain a surplus production capacity to support the stability of the global oil market. Al-Falih also met with President of the German Chambers of Commerce and Industry Dr. Eric Schweitzer. They discussed the goals of Saudi Vision 2030, in the presence of 30 presidents of big German companies, the Kingdom's ambassador to Germany Awwad Al-Awwad and Germany's ambassador to the Kingdom Boris Ruge. At the same time, Al-Falih called on German companies to boost their confidence in the attractive investment environment in the Kingdom, especially in the industrial and renewable energy sectors, simultaneously with the Kingdom's endeavor to achieve the goals of Saudi Vision 2030 and guarantee a bright future for its citizens. The aim is also to give German companies new opportunities. The German businessmen expressed their appreciation for Saudi Vision 2030 that will have a great effect on diversifying the Saudi economy and creating a qualitative change in the industrial, energy, health services, tourism and logistics sectors. This will increase the export of non-oil commodities, create an attractive environment for local and international investors and bolster their confidence in the Saudi economy.
