The European Union’s Ambassador in Riyadh, Christophe Farnaud, announced that more than 2,500 companies from the 27 EU member states are now active in Saudi Arabia, according to Al-Eqtisadiah newspaper.
These firms operate in sectors such as energy, manufacturing, infrastructure, digital transformation, green technologies, and logistics. Ambassador Farnaud emphasized that economic ties between Saudi Arabia and the EU are growing, with green energy, minerals, and digitalization identified as key areas for future collaboration.
The EU stands as Saudi Arabia’s second-largest trading partner, with bilateral trade reaching €70 billion in 2024, based on data from Al-Eqtisadiah. The EU enjoys a small trade surplus of €3 billion. Over the past ten years, trade between the two sides has increased by €13 billion, though Ambassador Farnaud noted there is still significant room for growth, especially if a free trade agreement is reached.
Additionally, the EU is the largest foreign investor in Saudi Arabia, responsible for 29% of the Kingdom’s total foreign direct investment.
In summary, economic cooperation between Saudi Arabia and the EU is expanding, particularly in strategic sectors, with substantial prospects for further partnership.
