Saudi Arabia’s Minister of Industry and Mineral Resources, Bandar Alkhorayef, commenced an official visit to the United States, aiming to enhance cooperation in industry and mining, strengthen bilateral relations, attract investments to the Kingdom, and explore opportunities in key industrial sectors, particularly aviation and space.
His visit, which will continue until September 28, includes stops in New York, California, and Nevada. During this time, Alkhorayef will engage with government officials and executives from leading American companies to discuss knowledge transfer, innovation, and advanced manufacturing technologies relevant to strategic industrial sectors in Saudi Arabia, as well as to examine the latest smart solutions in mining operations.
Visits to key institutions
Kicking off his trip in New York, the minister will participate in an event hosted by the Kingdom in partnership with the United Nations Industrial Development Organization (UNIDO). This event seeks to garner support for Riyadh’s hosting of the 21st session of the UNIDO General Conference in 2025 and the Multilateral Industrial Policy Forum (MIPF) scheduled for October. The goal is to strengthen the Kingdom’s ties with UNIDO and foster innovative industrial solutions and policies that promote industrial development both regionally and globally.
Alkhorayef toured the New York Stock Exchange, the largest stock market in the U.S., and is scheduled to visit Columbia University, where he will interact with faculty and students.
Participation in minexpo
Next, he will head to Las Vegas, Nevada, to attend “MINExpo,” the world’s leading mining exhibition, where he is expected to meet with representatives from major mining companies and explore state-of-the-art technologies in mining operations. The Ministry of Industry and Mineral Resources will also have a presence at this event, organized by the National Mining Association (NMA).
Roundtable discussions in Los Angeles
In Los Angeles, California, Alkhorayef will participate in a roundtable with leaders of significant U.S. companies to discuss promising industrial sectors outlined in the National Industrial Strategy, the opportunities they offer, and the incentives available for foreign investors. Additional bilateral meetings with private sector leaders are also on the agenda.
Collaborations in advanced industries
He plans to visit prominent advanced industry firms, including JetZero, a California-based aviation company, to discuss potential collaborations in the aviation sector. Furthermore, he will tour SpaceX, a front-runner in space exploration technologies.
Alkhorayef’s agenda in the U.S. also includes meetings with Saudi students studying in the country.
Read more: Saudi Arabia, U.S. forge roadmap for cooperation in energy with focus on sustainability
Economic ties between Saudi, U.S.
The Kingdom enjoys strong economic ties with the U.S., with total non-oil exports to the U.S. reaching SAR10.08 billion ($2.68 billion) in 2023, while total non-oil imports from the U.S. were valued at SAR67.61 billion ($18 billion). Key exports from Saudi Arabia include chemical products, basic metals and their derivatives, aircraft and ship components, and transportation equipment. Moreover, significant imports from the U.S. comprise railway locomotives, optical instruments, electrical machinery, and pharmaceutical products.
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