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TME Services

Bilateral Trade Between Saudi Arabia and Germany on the Rise5 min read

Author: Uwe Hohmann
Managing Partner, MBA Tax Law / Commercial- & Tax Consultant

The “German-Saudi Symposium on Innovation in the Glass Industry” took place on 03.06.2024 in Riyadh. The event aimed to enhance economic and trade relations between Saudi Arabia and Germany, contributing significantly to both nations’ growth and development.

Bilateral trade between Saudi Arabia and Germany saw an increase of over 20 percent from 2022 to 2024. The ongoing mega projects in the Kingdom present significant opportunities for the German glass industry, with more German companies establishing local value chains instead of just focusing on exports.

The economic and commercial relationships between Saudi Arabia and Germany are seen as key drivers for productive cooperation. As Saudi Arabia pursues its Vision 2030 goals, the partnership with Germany plays an important role in economic diversification and industrial sustainability. The glass industry, in particular, showcases the potential of this collaboration, combining Germany’s advanced engineering and technological innovations with Saudi Arabia’s natural resources and a vision for the future.

This symposium is expected to propel the glass industry to new heights and strengthen economic ties between Saudi Arabia and Germany. The collaboration in this sector highlights a commitment to innovation and technological advancement, setting a new standard for international cooperation.

How TME Services Can Support Your Business

As a German company with over 18 years of experience assisting clients in establishing their presence in the Middle East, we understand the immense opportunities this region offers. The recent symposium underscores the benefits for European companies looking to tap into Saudi Arabia’s growing market and advanced technological landscape.

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