JCCI attracts Canadian Investors

Wednesday, 05 December 2007
By Adel Al-Malki
JEDDAH - The Jeddah Chamber of Commerce and Industry (JCCI) organized a meeting on Sunday with a Canadian trade delegation that included 19 companies representing various sectors. Mustafa Sabri, secretary general, said the meeting aims to further boost trade and investment ties between Canada and Saudi Arabia. He added the strong relations were clearly manifested at various levels of political, economic and educational sectors.
The Saudi business delegation, on the other hand, included more than 40 businessmen who visited Canada in June this year.
"The meeting witnessed a number of agreements signed in the areas of training and research as well as investment opportunities available in both countries," Sabri said.
The volume of Canadian investments in Saudi Arabia reached more than $1.23 billion. Saudi exports to Canada increased significantly in recent years.
About 6,500 Canadians live in Saudi Arabia while more than 1,000 Saudis stay and study in Canada.
"The government encourages Canadian firms to invest in the Saudi market and to provide investment opportunities for them," Sabri added.