USSABC to Lead Mission to Saudi Arabia from the Commonwealth of Virginia
The U.S.-Saudi Arabian Business Council (USSABC), in collaboration with the Virginia Economic Development Partnership (VEDP), the authority responsible for the promotion of economic expansion within the Commonwealth of Virginia, will lead a delegation of Virginia companies on a business development mission to Saudi Arabia, November 10-13, 2007. This is the second mission to Saudi Arabia that the USSABC has organized this month.
During the four day mission, the delegation will visit the various chambers of commerce and industry in Dammam, Riyadh, and Jeddah, Saudi Arabia’s three major commercial centers. The delegation will also attend numerous meetings designed to familiarize the participants with the $1 trillion worth of business opportunities that Saudi Arabia has allocated for all the Kingdom’s main sectors through 2020. The USSABC will arrange one-on-one appointments for each of the participants and various networking events throughout the mission, giving the Virginia companies the possibility to meet representatives from the Saudi private sector and explore potential business partnerships. Additionally, the delegation will be briefed by officials on issues of current bilateral trade, as well as receive an update on the aspects of doing business in Saudi Arabia.
The USSABC and the Commonwealth of Virginia have a long history of close collaboration. In 1997, the USSABC sponsored a delegation of business development officials, which included an official from the State of Virginia, to Saudi Arabia to discuss opportunities to expand the trade and investment relationship between the United States and Saudi Arabia. Since then, the USSABC, in conjunction with the VEDP, has led four missions from Virginia to Saudi Arabia. In 2002, at the invitation of then Governor Mark Warner, the USSABC and the VEDP organized the first trade mission of Saudi companies to Virginia.
Earlier this year, the USSABC entered into a strategic alliance agreement with the VEDP. Under the agreement, the USSABC will represent the interests of the VEDP’s Division of International Trade in Saudi Arabia, in effect supporting Virginia’s efforts to develop its exports to Saudi Arabia. The goals of the VEDP’s Division of International Trade are to increase the number of Virginia companies exporting and the volume of Virginia exports. According to the U.S. Census Bureau, Saudi Arabia is the 13th largest trading partner for the Commonwealth of Virginia. In 2006, Virginia exported approximately $237 million in goods to Saudi Arabia, up from $201 million the previous year. In serving the state of Virginia, the USSABC will offer trade development services, including market research and entry strategy, competition analysis, partner identification and introduction, and in-country partnership screening and analysis, among other services, to the VEDP.
About the USSABC
The U.S.-Saudi Arabian Business Council (USSABC) is a non-profit organization with offices in Washington, D.C. and Riyadh, Saudi Arabia. Incorporated December 1993, our mission is to develop, foster and expand the strategic business alliance between the U.S. and Saudi Arabia by promoting trade, investment and sustainable economic development. We are a membership-driven organization with an impressive member roster that includes some of the most influential companies in the United States and Saudi Arabia.
The USSABC is the premier authority on economic opportunities for both the American and Saudi Arabian business communities. We have a long-standing reputation as a trusted leader in our arena. Our business strategy focuses on uncovering business opportunities that allow our members to increase their market share. For over a decade, we have perfected the art and science, of gathering, disseminating and delivering real-time business information products and services. In addition to sponsoring trade missions to and from Saudi Arabia, the USSABC offers Business Facilitation Services, Networking Services, Information & Communications Services, and Consulting Services. For more information visit our website at: http://www.us-sabc.org
Vice President, Business Development
U.S.-Saudi Arabian Business Council