Saudi Arabia, Canada Reestablish Business Council After 5-Year Hiatus

09 Jul, 2024

Saudi Arabia, Canada Reestablish Business Council After 5-Year Hiatus

Saudi Arabia and Canada have officially resumed their joint business council after a five-year hiatus, marking a significant step in the renewal of bilateral relations. The Federation of Saudi Chambers has announced the reestablishment of the Saudi-Canadian Business Council, with Mohammed Bin Nasser Al-Duleim appointed as the chairman. Abdullah Bin Salem Al-Yami and Abdullah Bin Ahmed Al-Ahmed will serve as his deputies in this pivotal role.

This council aims to rekindle economic and trade cooperation between Saudi Arabia and Canada, focusing on enhancing business opportunities and strengthening economic ties. Earlier this year, both nations agreed to re-establish this business council, following the resumption of diplomatic relations after a period of strained ties. The diplomatic rift began in 2018 when Saudi Arabia expelled the Canadian ambassador and suspended trade relations over a dispute concerning detained activists.

The recent development reflects a thaw in relations, signified by the signing of a memorandum of understanding in the presence of Canada’s Ambassador to Riyadh, Jean-Philippe Linteau. This new phase of cooperation aims to explore joint investment opportunities and bolster trade relations, signaling a positive shift in the Saudi-Canadian economic partnership.