Saudi Minister Chairs Business Roundtable for Enhanced US Strategic Partnership
Alkhorayef leads meeting with US Chamber of Commerce to bolster Saudi-US collaboration.
SAUDI GAZETTE REPORT RIYADH — The Kingdom's commitment to strengthening its strategic partnership with the United States in the industrial and mining sectors was reaffirmed through a high-level roundtable meeting chaired by Saudi Minister of Industry and Mineral Resources, Bandar Alkhorayef.
In partnership with the US Chamber of Commerce, this significant gathering took place in North Carolina during Alkhorayef's ongoing visit to the United States.
The roundtable meeting brought together key stakeholders from both nations, including National Industrial Development Center Chief Executive Eng.
Saleh Al-Solami and representatives from the American private sector.
The Ministry of Industry and Mineral Resources emphasized that this dialogue reinforced Saudi Arabia’s position as the largest economic partner for the US in the Middle East, with a bilateral trade volume reaching $25.7 billion in 2024.
This strong trade relationship is supported by frameworks like the Saudi-American Trade and Investment Framework Agreement (TIFA), which aims to expand cooperation in advanced industries and critical supply chains.
Participants examined opportunities presented by the Kingdom's strategic industrial initiatives aimed at driving economic transformation, such as the Future Factories Program that targets automation of 4,000 facilities.
The session also underscored several promising sectors within Saudi Arabia, notably the pharmaceutical and medical devices sector expected to grow to $7.5 billion by 2030 and the chemical conversion industries sector with its global production share of 8 percent.
The Kingdom's industrial potential is bolstered by extensive mineral wealth valued at $2.5 trillion, which includes copper, nickel, rare earth elements, and gold.
The roundtable meeting also highlighted other competitive advantages such as regulatory reforms, 100 percent foreign ownership rights, financial incentives, and advanced infrastructure.
These factors collectively position Saudi Arabia as an attractive global destination for industrial investment.
Following the productive discussions, Alkhorayef extended an invitation to American officials and private sector representatives to attend the fifth Future Minerals Forum in January 2026.
This international conference will bring together mining leaders, major investors, and innovators in mining technologies to address the future of the industry and explore growth-enhancing solutions.
In partnership with the US Chamber of Commerce, this significant gathering took place in North Carolina during Alkhorayef's ongoing visit to the United States.
The roundtable meeting brought together key stakeholders from both nations, including National Industrial Development Center Chief Executive Eng.
Saleh Al-Solami and representatives from the American private sector.
The Ministry of Industry and Mineral Resources emphasized that this dialogue reinforced Saudi Arabia’s position as the largest economic partner for the US in the Middle East, with a bilateral trade volume reaching $25.7 billion in 2024.
This strong trade relationship is supported by frameworks like the Saudi-American Trade and Investment Framework Agreement (TIFA), which aims to expand cooperation in advanced industries and critical supply chains.
Participants examined opportunities presented by the Kingdom's strategic industrial initiatives aimed at driving economic transformation, such as the Future Factories Program that targets automation of 4,000 facilities.
The session also underscored several promising sectors within Saudi Arabia, notably the pharmaceutical and medical devices sector expected to grow to $7.5 billion by 2030 and the chemical conversion industries sector with its global production share of 8 percent.
The Kingdom's industrial potential is bolstered by extensive mineral wealth valued at $2.5 trillion, which includes copper, nickel, rare earth elements, and gold.
The roundtable meeting also highlighted other competitive advantages such as regulatory reforms, 100 percent foreign ownership rights, financial incentives, and advanced infrastructure.
These factors collectively position Saudi Arabia as an attractive global destination for industrial investment.
Following the productive discussions, Alkhorayef extended an invitation to American officials and private sector representatives to attend the fifth Future Minerals Forum in January 2026.
This international conference will bring together mining leaders, major investors, and innovators in mining technologies to address the future of the industry and explore growth-enhancing solutions.
