The General Authority of Foreign Trade (GAFT) hosted a workshop in Riyadh, collaborating with the Commercial Attaché Office in Malaysia, to enhance alignment with key partners and support the Saudi private sector.
The workshop featured discussions on overcoming trade challenges, exploring investment opportunities, and preparing for upcoming Free Trade Agreement negotiations with Indonesia, focusing on trade, investment, services, and digital trade.
The Commercial Attaché Office in Malaysia, which also covers Indonesia, Singapore, and Thailand, is vital in promoting Saudi Arabia's non-oil exports and attracting foreign investment, aligning with GAFT’s broader goals of supporting international trade and economic growth.
Riyadh, September 4, 2024 — The General Authority of Foreign Trade (GAFT) recently hosted a pivotal harmonization workshop in collaboration with the Commercial Attaché Office in Malaysia. Held at GAFT's headquarters in Riyadh, this workshop brought together key stakeholders, including Saudi Arabia’s Ambassador to Indonesia, Faisal bin Abdullah Al-Amoudi, along with representatives from various sectors, both public and private.
The primary objective of the workshop was to enhance alignment between GAFT and its key partners to better support the Saudi private sector. The discussions focused on identifying and addressing existing challenges, reviewing investment and export opportunities, and consolidating efforts among relevant entities to foster a more coordinated approach to international trade.
A significant highlight of the workshop was a dedicated session on Indonesia's economic outlook through 2050. This session involved detailed discussions with the Saudi negotiating team, aiming to uncover potential commercial opportunities for collaboration between Saudi Arabia and Indonesia. This dialogue is particularly relevant as both countries prepare for the upcoming Free Trade Agreement, with the first round of negotiations scheduled for later this month. These negotiations will target critical areas such as trade, investment, services, and digital trade, setting the stage for deeper economic integration between the two nations.
The Commercial Attaché Office in Malaysia, which oversees trade relations with several East Asian countries including Indonesia, Singapore, and Thailand, plays a crucial role in strengthening trade links. This office is instrumental in promoting Saudi Arabia’s non-oil exports to emerging Asian markets and in attracting foreign investment to the Kingdom, thereby supporting Saudi Arabia’s broader economic diversification goals.
This workshop forms part of GAFT’s broader initiative to streamline private sector operations and enhance support through the resources provided by commercial attachés and the various departments within GAFT. By fostering stronger international partnerships and addressing key trade challenges, GAFT aims to bolster Saudi Arabia’s global trade position and facilitate sustainable economic growth.