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 15-17, 2008. This is the second mission to Saudi Arabia that the USSABC has organized this month.
During the three-day mission, the delegation will visit the various chambers of commerce and industry in Dammam and Riyadh, two of Saudi Arabia's 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 five 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.
In 2007, 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 17th largest trading partner for the Commonwealth of Virginia. In 2007, Virginia exported approximately $245 million in goods to Saudi Arabia, up from $237 million the previous year. In serving the state of Virginia, the USSABC offers 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 the Washington, D.C. metropolitan area and Riyadh, Saudi Arabia. Incorporated in 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 offers a wide range of products and services aimed at continually expanding business opportunities between Saudi Arabian and American companies. In addition to sponsoring business trade missions to and from Saudi Arabia, the USSABC offers Business Development Services, Networking Services, and Communications & Information Services.
For more information about the USSABC, please visit our website at: www.us-sabc.org
Vice President, Business Development
U.S.-Saudi Arabian Business Council