Goyal to meet ministers, businesses in Riyadh to discuss trade, investment

Commerce and Industry Minister Piyush Goyal will meet senior leaders and businesses in Riyadh during his two-day visit to Saudi Arabia, starting from October 24, to discuss ways to boost trade and investments between the two countries, an official statement said on Monday.

Goyal will be attending the seventh edition of Future Investment Initiative (FII) in Riyadh, Saudi Arabia.

He would meet Kingdom of Saudi Arabia (KSA) dignitaries including Energy Minister Prince Abdul Aziz Bin Salman Al-Saud; Commerce Minister Majid bin Abdullah AlKassabi; Investment Minister, Khalid A. Al Falih; Industry and Mineral Resources Minister Bandar bin Ibrahim AlKhorayef; and Governor Public Investment Fund (PIF) Yassir Rummayyan among others, the commerce ministry said.

Goyal will also co-chair a conclave session on the theme From Risk to Opportunity: Strategies for Emerging Economies in the New Industrial Policy Era along with the Saudi Arabian Investment Minister.

He is also expected to meet business leaders and leading CEOs from across the world.

FII Institute is a global non-profit foundation which aims to gather government and business leaders from around the world to discuss new pathways for investment.

Its four areas of focus are Artificial Intelligence (AI) and Robotics, Education, Healthcare, and Sustainability.

It added that this edition of FII event is expected to witness participation from the world's leading investors, business leaders, and policymakers.

The trade between the countries reached an all-time high of USD 52.75 billion in 2022-23, it said.