Riyadh, December 13, 2024 – During the official visit of UK Prime Minister Keir Starmer to Saudi Arabia on December 9, both countries reinforced their commitment to strengthening economic, political, and cultural ties. In a joint statement following the meeting, the leaders emphasized their shared ambition to increase bilateral trade to £30 billion by 2030. This commitment aligns with both nations' broader goals of enhancing prosperity through collaboration on key sectors such as infrastructure, clean energy, and financial services.
The two sides also recognized the pivotal role of the Saudi-UK Strategic Partnership Council in fostering cooperation and expressed their desire to hold the next session of the council in the UK. Both parties hailed significant progress on the GCC-UK Free Trade Agreement, with ongoing efforts to finalize the deal soon. The visit underscored the growing investments between the two nations, with Saudi Arabia’s Public Investment Fund (PIF) making major investments in the UK, including acquisitions of Selfridges, Heathrow Airport, and additional investments in Newcastle United Football Club. On the UK side, further investments in Saudi Arabia, such as a $700 million financing facility in Qiddiya, were highlighted as a testament to the expanding economic ties.
In addition to economic cooperation, the two nations discussed growing cultural and educational exchanges, emphasizing the importance of supporting Saudi Arabia's Vision 2030. Plans to increase UK-branded schools and establish more UK university branches in Saudi Arabia were also announced. Both countries agreed to strengthen their collaboration on clean technologies, energy innovation, and clean hydrogen, aiming to lead the way in sustainable growth and global competitiveness.
The geopolitical discussions also focused on mutual security concerns, with both sides expressing their commitment to addressing regional issues, including the conflicts in Gaza, Syria, Yemen, and Sudan. The two leaders emphasized the importance of multilateral cooperation and humanitarian support, reaffirming their efforts to foster peace, stability, and prosperity across the Middle East and globally.
As the visit concluded, Prime Minister Starmer expressed gratitude for the warm reception and reaffirmed the United Kingdom’s ongoing support for Saudi Arabia’s ambitious development agenda, setting the stage for deeper collaboration and stronger bilateral ties in the years to come.