A major trade and investment forum focusing on the opportunities for British business in Saudi Arabia is to be held in London on Sept. 23 this year. “Opportunity Arabia 7”, the seventh annual seminar on the Kingdom of Saudi Arabia, is being organized by the Middle East Association and is recognized as a preeminent annual conference on the London calendar promoting opportunities in Saudi Arabia, Global Arab Network reported on Thurday. The Kingdom is the largest and most important economy in the MENA region, accounting for over £2.6 billion of UK exports in 2009. The UK is the second largest foreign investor in this dynamic and fast changing market. The Kingdom's membership to the G20, and its' increasing influence in the region, continue to raise its' global political and economic profile. The pace of economic expansion and diversification continues undiminished. New infrastructure projects account for $80 billion up to 2013. The oil and gas sector has been earmarked for more than $130 billion of planned investment for the next five years. The rapidly developing mining industry will soon account for 18% of GDP with significant expected growth in new upstream industries. Some examples of the tremendous economic and cultural expansion currently underway in Saudi Arabia include the creation of five new megacities with extraordinary urban planning and financing models; the “Landbridge” rail link between Jeddah and Riyadh; and the opening of the King Abdullah University for Science and Technology. The conference will feature key Saudi and British speakers from government and business. Baroness Symons, co-chair of the Saudi-British Joint Business Council and Vice President of the MEA, will open proceedings with a keynote address. It will be chaired by Sir Alan Munro KCMG, former ambassador to Saudi Arabia. Other confirmed speakers include Dr Abdullah Dabbagh, chairman of Ma'aden; Dr John Sfakianakis, chief economist, Saudi Fransi Bank and Paul Williams, head of UKTI Saudi Arabia. The conference will also include case studies of British companies who have successfully joint ventured with KSA companies in manufacturing, providing excellent practical information. This event will be an excellent high level networking opportunity.
