Economic diversification between countries – especially that between Saudi Arabia and France – creates free competition, according to economists, reports Saudi-based Alyaum.
This free competition in turn reflects positively on the final consumer in the market, the economists add, pointing out that France is the commercial and industrial partner for many of the projects in the kingdom.
On the sidelines of their reading of the French Prime Minister’s visit to the kingdom, economists say that this visit will reflect positively on the local economy, contribute to the strengthening of intra-trade and open up prospects and economic opportunities for marketing local Saudi products in the French market and vice versa.
The vice-president of the Saudi-French Business Council, Eng. Faiz Alelweet says: “France is highly interested in the development of economic relations with the kingdom for its strong economy and welcoming foreign investors, both from the government side or the private sector.”
He adds: “There are more than 70 French companies operating in the kingdom with investments amounting to nearly €15 billion.”
(€1 = AED4.17, at the time of publishing)