KSA, Zanzibar must raise the level of trade exchange, Zanzibar President Mwinyi stresses

 

RIYADH — Zanzibar President Dr. Hussein Ali Mwinyi stressed the importance of strengthening trade, economic and investment relations between Zanzibar and Saudi Arabia in various fields, benefiting from commercial opportunities in light of the Kingdom Vision 2030, and raising the level of trade exchange between the two countries.

He made this statement during his visit Monday to the headquarters of the Federation of Commerce Chambers in Riyadh, where he was received by Vice Chairman of Federation of Saudi Chambers Nizar Al-Harkan.

The President of Zanzibar highlighted the importance of exchanging experiences between the two countries, including in the blue economy, and benefiting from the Kingdom's experiences in tourism and the petroleum sector.

He indicated that his visit to the Kingdom will contribute to activating trade relations between the two countries and supporting business opportunities to discuss establishing joint projects in all fields.

Al-Harkan, meanwhile, expressed his optimism to support the historical and religious relations between the two countries, addressing the levels of progress that the Kingdom has achieved and is still achieving in line with the Vision 2030.

He indicated that the recent official data showed an increase in the value of trade between the two countries to reach SR4.7 billion in 2021 compared to SR1.5 billion in 2020, an increase of 216% in 2021 compared to 2020.

He added that the value of intra-regional trade during the past five years reached SR15.9 billion and the volume of intra-trade in the first half of 2022 between the two countries amounted to SR2.8 billion. — SPA