Saudi British Joint Business Council

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Saudi Arabia

Profile

The Saudi British Joint Business Council (SBJBC) is an independent and private sector-led (not for profit) body, which aims to develop and enhance business relations at all levels between the Kingdom of Saudi Arabia and the United Kingdom.  Through its British and Saudi members and its Secretariat in London and Riyadh, it offers a range of advisory services, as well as access to high level governmental and private sector networks in both Kingdoms.  The UK Co-Chair is Rt Hon Baroness Symons of Vernham Dean, who works alongside her Saudi counterpart, Sheikh Nasser Al-Mutawa Alotaibi.

Services for Exporters

Our team of professionals can advise and facilitate all aspects of private sector business and relations between the Kingdoms. Our key objectives are:

  • To communicate with the authorities in both the Kingdom of Saudi Arabia (KSA) and the United Kingdom (UK), with the aim of improving business to business cooperation. 
  • To assist through its good offices in settling commercial disputes between parties from both Kingdoms. 
  • To facilitate training, technology transfer and knowledge exchange between the KSA and the UK.
  • Promote business and partnership opportunities in the Kingdoms, particularly for small and medium sized enterprises.

In order to achieve these goals, the Council has taken steps to recently establish a number of joint working groups in Education, Healthcare, PPP, SMEs and Offset - which meet formally at least twice a year.  Similarly, the Council works closely with both governments and other trade associations in pursuit of its objectives, and is a partner in UKTI’s Strengthening the Overseas Business Networks Initiative.

Market Information

With a population of over 28 million, the Kingdom of Saudi Arabia is the largest economy of the Arab world (and accounts for 25% of their overall GDP).  Traditionally seen as an oil-based economy, it possesses around 16% of the world’s proven reserves which translates to around 95% of their export earnings.  However, Saudi Arabia has witnesses a period of relatively high growth and economic progress over the past few years, and following policies of economic diversification and reform, its GDP reached approximately US$750 billion in 2013.  Indeed, driven by the new economic efforts of the Government, the non-oil sectors (driven by manufacturing, construction, wholesale & retail trade, banking & financial services and transportation) accounted for 51.8% of GDP in 2013.  As a result, Saudi Arabia is an attractive and stable location within the Middle East for all sectors and foreign private investment. 


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