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HomeUncategorizedGESALO: Strong promoter of bilateral economic relationship

GESALO: Strong promoter of bilateral economic relationship

Sun, 2021-10-03 02:41

RIYADH: GESALO, the German-Saudi Arabian Liaison Office for Economic Affairs, has emerged as a major catalyst for enhanced commercial relations between Saudi Arabia and Germany over the past 40 years.

The official representative of German industry and commerce in Saudi Arabia, Bahrain and Yemen, the office is part of a worldwide network of German Chambers of Commerce Abroad. Its mission is to provide support for, and help to boost, bilateral economic ties in close cooperation with the Saudi business community and government institutions.

As Germany celebrates its National Day, Dalia Samra-Rohte, the delegate of German industry and commerce for Saudi Arabia, Bahrain and Yemen at GESALO, said: “We are proud to be a strong promoter and catalyst of the bilateral economic relationship, having supported numerous German as well as Saudi companies over the past 40 years.

“The opportunities offered by Saudi Vision 2030 will certainly create additional momentum to grow the relationships even further.”

GESALO provides a broad range of services covering areas such as market entry, market research and business partner search, delegation trips, and the promotion of attractive business opportunities in the Kingdom to German companies.

Another particularly important mission of GESALO is the promotion of German trade shows among Saudi companies looking to make international contacts. Two-thirds of all global trade fairs take place in Germany.

Germany is also Saudi-Arabia’s fourth-largest trading partner. Chemical products and equipment is the single largest product group the country exports to the Kingdom.

In 2020, total German exports to the Kingdom were worth €5.9 billion reflecting the excellent business relationship with Saudi companies.

In recent years, German industry has played a considerable role in contributing to diversification and localization in Saudi Arabia.

The strong economic relationship has resulted in about 800 German companies operating and investing in the Kingdom, which is helping to support the diversification of the Saudi economy.

With the implementation of Saudi Vision 2030, the potential for cooperation expanded. As sustainability is a major focus of its plans, further opportunities have been identified in the fields of renewable energy, green hydrogen and the water sector.

“Furthermore, German industry has contributed to developments in the healthcare sector, major infrastructure projects and digitalization,” said Samra-Rohte.

In addition to traditional and established industries, GESALO is also supporting Saudi startups and helping to set them up with appropriate industry partners.

With a growing demand among the local workforce, German companies are providing employment opportunities for numerous Saudi citizens, and each year GESALO organizes a JobXchange employment fair for Saudi Students who are studying in Germany and will soon return to the Kingdom.

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