On January 24, 2016 at the Council of Saudi Chambers of Commerce building the U.S.-Saudi CEO Summit kicks off a focused, high-level private-sector initiative to assess the U.S.-Saudi commercial and business environment in order to enhance bi-lateral trade, investment and cooperation.
The Saudi-US Trade Group team is in Riyadh to participate in the inaugural U.S.-Saudi CEO Summit (CEO Summit). As noted in the joint press communique (see below) issued by the Council of Saudi Chambers of Commerce and the U.S. Chamber of Commerce, this forum, “brings together high-level business executives from the United States and Saudi Arabia with the objective of exploring how to enhance and increase bilateral economic activity to the benefit of both countries.”
The Saudi-US Trade Group (SUSTG) has assisted with this project since its inception last year. The CEO Summit is a direct result of the cooperative relationship established between the Council of Saudi Chambers of Commerce (CSC) and the U.S. Chamber of Commerce (USCofC) following the signing of an MOU in March 2014.
In the past six months collaborative efforts between the CSC and the US CofC have accelerated with the CEO Summit being the most ambitious project thus far. The CEO Summit initiative calls for two forums in 2016 – this one in Riyadh and the second in Washington, DC in late November/early December. In ensuing years one annual CEO Summit will be convened in alternating venues.
The inaugural CEO Summit was a resounding success with twenty five U.S. corporations (see list) represented along with 30+ Saudi corporations participating along with them (list below).
The CEO Summit opened with remarks from Dr. Abdul Rahman Al- Zamil, President, Council of Saudi Chambers, Tom Donohue, President and CEO, U.S. Chamber of Commerce, HH Prince Abdullah Al-Saud, Saudi Ambassador to the U.S. and The Honorable Joseph Westphal, U.S. Ambassador to Saudi Arabia.
The ensuing discussion was moderated by Dr. Abdul Rahman Al-Zamil and Tom Donohue and included presentations on Workforce Productivity; Supply Chain Development; Business Environment and; a Knowledge-Based Economy Focus on Healthcare.
The purpose of the U.S.-Saudi CEO Summit is to bring together leading and influential CEO-level American and Saudi executives in order to exchange ideas, build mutual trust and understanding, and seek common ground on key trade and investment issues. This in turns lays the foundation for CEOs to convey more deeply informed views to both governments and to help strengthen bilateral relations.
Practically, the CEO Summit organizers will build off of this very successful inaugural event to identify and prioritize key sectors and critical regulatory issues; establish working groups to focus on these and move quickly towards achieving actionable results that will improve the U.S.-Saudi commercial and business relationship.
U.S. Companies represented:
Dow Chemical Company
Apollo Education Group, Inc.
Bechtel
Black & Veatch Corporation
Blumberg Capital Partners
Chevron Corporation
Eli Lilly and Company
Ford Motor Company
Guardian Industries Corp.
Honeywell
HP Enterprise
KKR
Lockheed Martin
Marriott International
McKinsey & Company
Northrop Grumman Corporation
Oshkosh Defense
Pfizer Inc.
SOS International
The Coca-Cola Company
Saudi Companies represented:
Al-Rajhi Holding
Al-Tayyar
Al-Zaid Engineering Consultants
Al-Mobty Group
Alagat
Aseer Company
Bahri
Bupa Arabia for Cooperative Insurance Co.
Cayan Group
GHASSANCO
Gulf Rose Group
Hassan Abdulkarim Al-Qahtani Holding Group
IMD
Khalid Ali Alturki & Sons Co.
King Faisal Specialist Hospital & Research Centre
Olayan Group
Riyadh Chamber of Commerce & Industry
Sadara Chemical Company
Saudi Arabian Mining Co. (MAADEN)
Saudi Banks
Saudi Electricity Co. (SEC)
The El Seif Group
The National Water Company (NWC)
Zahid Tractor
Zamil Group
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U.S. Chamber of Commerce and Council of Saudi Chambers Kick-off U.S.-Saudi Arabia CEO Summit |
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Will Provide Forum to Boost Bilateral Trade, Expand Commercial Partnerships |
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“The establishment of the U.S.-Saudi Arabia CEO Summit, which meets twice per year, is a cornerstone for the two business communities, giving both sides an excellent platform to network, explore business opportunities, engage in dialogue about obstacles to business and review economic policies as they relate to the private sector.” said Dr. Abdulrahman Al-Zamil, chairman of the CSC. “Twenty five American CEOs and business leaders came to Riyadh this week to meet with their counterparts from Saudi companies for this landmark event,” said Thomas J. Donohue, President and CEO of the U.S. Chamber of Commerce. “To support the Kingdom’s ambitious economic development and diversification plans, our business communities have come together to grow U.S.-Saudi trade and investment and to promote economic growth and job creation.” The CEO Summit’s agenda is structured around economic and commercial topics of mutual interest. Topics include advancing a more closely integrated U.S.-Saudi supply chain, boosting workforce productivity, improving the business environment, and supporting Saudi’s vision of developing a knowledge-based economy. The Summit lays the foundation for CEOs to convey more deeply informed views to both governments and to help strengthen bilateral relations. Participants in the Summit will meet again in 2016, in Washington, before moving to a once-annual meeting schedule starting in 2017, alternating each year between Washington and Riyadh. “There are incredible opportunities for competitive American companies to bring their technology, knowledge, and financing to the Kingdom and to partner with and support key Saudi Arabian companies,” Donohue said. “Today’s Summit laid the groundwork to address specific policy areas, and the U.S. Chamber and the Council of Saudi Chambers will work to translate these ideas into concrete policy recommendations for our governments to act on.” About the U.S. Chamber of Commerce The U.S. Chamber of Commerce is the world’s largest business organization representing the interests of more than 3 million businesses of all sizes, sectors, and regions. Members range from mom-and-pop shops and local chambers to leading industry associations and large corporations. They all share one thing–they count on the Chamber to be their voice in Washington, D.C. and capitals around the globe.
About the Council of Saudi Chambers of Commerce The Council for Saudi Chambers of Commerce and Industry is the official federation for the 28 Saudi Chambers. Formed in 1980, The Council’s main objective is to observe the common interests of the Saudi Chambers, represent them on local and international levels and assist in the enhancement of the private sector’s role in the development of the national economy. The Council plays an instrumental role in the formation of Saudi policy as it relates to all economic sectors. |
