The European Union (EU) is gearing up to open the Gulf Cooperation Council (GCC) region’s first chamber of commerce in Saudi Arabia’s capital Riyadh on Wednesday, May 8.
The highly-anticipated launch event will take place at the Cultural Palace in the Diplomatic Quarter of Riyadh.
On its official website, the European Chamber of Commerce in the Kingdom of Saudi Arabia (ECCKSA) says the chamber will be “the voice of European business in the Kingdom.”
“It is dedicated to enhancing economic and business ties between the Kingdom of Saudi Arabia and the European Union.”
“ECCKSA leverages it’s strong governmental relationships to facilitate market access for member companies, ensuring fair opportunities for both European and Saudi businesses,” it adds.
In October 2023, the EU and Saudi Arabia have agreed to establish a ECCKSA, to be the first of its kind in the region.during the Saudi-European Investment Forum.
At that time, Saudi Minister of Investment, Khalid Al-Falih, highlighted the importance of coordinating with the EU for the Kingdom’s economic transformations, highlighting its unique position to meet European needs.