He confirmed the two countries' determination to strengthen the trade exchange volume
The Minister of Trade and Investment Dr. Majid bin Abdullah Al Qasabi met with the Minister of Trade of New Zealand Hon Todd McClay in his office at the ministry on Tuesday. They discussed economic cooperation between the two countries, the two sides also discussed ways of developing trade and economic relations continuously growing between the Kingdom and the State of New Zealand and the means to promote the volume of trade exchange between the two countries.
HE Dr. Al Qasabi briefed Mr. McClay about the Saudi Vision 2030, the two sides agreed to form a team to discuss investment opportunities in light of Vision 2030, in one of the countries or outside of them.
Dr. Al Qasabi stressed that the Government of the Saudi Arabia is working effectively to find new ways to diversify the economy and increase the work efficiency. The Minister of Trade of New Zealand pointed out his country's determination to create any opportunities and increase trade and investment between the two countries.
The two ministers emphasized that Saudi Arabia and New Zealand active trade partners, expressing optimism the future of trade relations and the growing food security partnership between the two countries. The two ministers declare that trade relations will continue and become deeper and more expanded once the GCC/New Zealand free trade agreement entry into force. Both sides expressed satisfaction with the progress and the effort to achieve this objective and agreed to continue the efforts to achieve the hoped-for plans sooner.
It is worth mentioning that the size of trade exchange between the Kingdom and New Zealand, grown to 2.7 billion riyals in 2015.