Billionaires & Bilateral Relations
Perhaps the fact that United Kingdom was amongst the first states that recognised the country of Saudi Arabia in 1926 is the foundation of their economic and political relations. They have long been close allies, and have signed treaties of protectorate, cooperation and even military agreements. Today, there are over 200 joint British and Saudi companies, Saudi Arabia being the United Kingdom’s main trading partner of the Gulf states. However, the notable differences between both countries’ practices.
Constantly trying to strengthen bonds, the UK and Saudi Arabia organise events in an effort to bring more Saudi investment into British soil. Just last year, the Saudi British Joint Business Council (SBJBC) welcomed over 70 Saudi and British small-to-medium enterprises from the economic and creative industries to a forum in London that would form partnerships, mentoring and access to finances. Moreover, potential investors and businesses were present to hear out the new projects proposed and perhaps find the need to fund one.
This is just one of the many efforts being made to solidify business bonds between these countries, especially when guns and oil are a recurring media headline involving the relationship between them. The SBJBC looks to strengthen business and economic relations between the nations; just like Arab-British Chamber of Commerce whose sole function is to promote bilateral trade and investment between Britain and numerous Arab countries.