The Saudi-US Business Council and Federation of Saudi Chambers sign an MoU to facilitate trade delegations, investment partnerships, market access and business cooperation between the two countries.
The Saudi-US Business Council and the Federation of Saudi Chambers have signed a Memorandum of Understanding (MoU) in Washington, D.C., to strengthen commercial relations, expand investment opportunities and improve business engagement between Saudi Arabia and the United States. The agreement establishes a framework for closer coordination between the two organisations to support companies operating in both markets and address challenges affecting cross-border trade and investment.
The MoU was signed by Saudi-US Business Council Chairman Charles Hallab and Federation of Saudi Chambers Secretary-General Sultan bin Mohammed Al-Musallam in the presence of officials and business representatives from both countries. The Federation of Saudi Chambers will represent the interests of Saudi Arabia's private sector within the partnership, ensuring that local businesses have greater participation in bilateral commercial initiatives.
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Under the agreement, both organisations will facilitate trade delegation visits, encourage direct engagement between business leaders and support the development of strategic partnerships. The framework also provides for investment promotion, information exchange and sharing of market expertise to help companies understand business opportunities and operating conditions in both countries.
Another priority is improving market access for businesses. The two organisations will work through relevant channels to identify regulatory and operational challenges faced by companies and facilitate solutions that support their entry into the Saudi and US markets. These measures are intended to create more structured engagement between private-sector stakeholders and strengthen commercial connections.
A joint working group will oversee the implementation of the MoU and prepare an action plan outlining cooperation priorities and responsibilities. Senior representatives from both organisations will meet every three months to review progress, identify priority sectors, establish timelines and assess the implementation of agreed initiatives.
The agreement also includes cooperation to activate the Federation of Saudi Chambers' International Business Concierge initiative, which aims to facilitate international business activities and attract US investment into Saudi Arabia. Planned activities include sector-specific business programmes, business-to-business meetings, engagements between companies and government entities, and support for Saudi exports to the US market.
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The signing comes amid broader efforts to expand economic cooperation between the two countries under Saudi Vision 2030. Their commercial relationship increasingly covers sectors such as artificial intelligence, digital technologies, advanced manufacturing, energy and infrastructure. The Public Investment Fund's investments in the United States have reached approximately US$170 billion since 2017, according to remarks by a Saudi diplomatic representative at a separate business engagement in Washington.