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Luigi Di Maio, the EU's special representative in the GCC, announced that more than 350 European companies have obtained licenses to open regional headquarters in Riyadh, and they all hope to enter the Saudi market as soon as possible.
Maio also said that the trade volume between the EU and Saudi Arabia will reach 87.9 billion euros in 2023. He also announced the establishment of the Gulf European Chamber of Commerce in Riyadh next May.
Saudi Arabia’s overseas direct investment in the EU will grow from 48 billion euros in 2021 to 65 billion euros in 2022.
EU foreign direct investment in Saudi Arabia will double from 15.7 billion euros in 2021 to 30.8 billion euros in 2022.