With the Participation of the Largest Saudi Trade Delegation,
London – September 3, 2025
Today, the city of London hosted the flagship summit of the GREAT FUTURES initiative, coinciding with the fifth meeting of the Economic and Social Pillar of the Saudi-British Strategic Partnership Council. The Council is chaired by His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister of the Kingdom of Saudi Arabia (may God protect him) and the Rt Hon Sir Keir Starmer, Prime Minister of the United Kingdom.
During the opening of the summit, which witnessed the participation of the largest-ever Saudi trade delegation, comprising 195 business leaders, 33 government officials, over 320 representatives of leading British companies, and around 30 UK government officials, H.E. Dr. Majid bin Abdullah Al-Kassabi, Saudi Minister of Commerce and Chair of the Economic and Social Committee from the Saudi side, emphasized that the Vision launched by His Royal Highness the Crown Prince has brought about transformative changes in the Saudi economy.
H.E. Al-Kassabi, alongside his British counterpart—the Rt Hon Jonathan Reynolds, UK Secretary of State for Business and Trade and Chair of the Economic and Social Committee from the UK side—participated in a ministerial fireside chat today. During the discussion, H.E. Al-Kassabi praised the Committee's ongoing efforts, noting that 80 initiatives are currently underway to translate plans into tangible achievements. These initiatives focus on innovation, empowering the private sector, and enhancing government coordination.
H.E. Al-Kassabi elaborated that both countries are working to increase bilateral trade to £30 billion by 2030. The UK is already one of the Kingdom’s top ten trading partners, with trade exceeding £16 billion last year. 1,689 British companies operate in Saudi Arabia, including 75 that have chosen Riyadh as their regional headquarters.
During the summit, the Chairs of the Economic and Social Committee of the Saudi-British Strategic Partnership Council announced a new Saudi-British strategic partnership. This partnership is built on aligning the UK’s Modern Industrial Strategy with Saudi Arabia’s Vision 2030, focusing on five strategic priority areas: Financial Connectivity, Life Sciences and HealthTech, Industrial Growth, Creative Industries, and Driving Innovation in Education.
The summit forms part of the broader efforts of the initiative, which is one of the key programs under the Economic and Social Pillar of the Council. It serves as a main driver for promoting shared economic priorities, fostering strategic initiatives, highlighting achievements, and accelerating economic growth and cooperation across 13 promising sectors, including education, health, tourism, culture, sports, trade and investment, and finance.
The summit also included a presentation on the UK’s Industrial Strategy as well as a fireside chat exploring the impact of technology on reshaping industries, focusing on how governments can empower the private sector to harness advanced technologies for greater competitiveness and sustainability. Diriyah Company presented a visual showcase highlighting the transformation of Saudi heritage into a globally sustainable urban living model.
Summit activities included 38 agreements and announcements valued at over SAR 20 billion, in addition to five workshops that explored enhanced Saudi-British cooperation in key sectors. Success stories from companies in both countries were also shared, alongside an accompanying exhibition, with musical and folk performances reflecting the cultures of both nations.
It is worth noting that Riyadh hosted the GREAT FUTURES initiative’s opening summit in May 2024, which saw participation from 2,200 business leaders from both countries. That event featured more than 20 bilateral ministerial fireside chats, 13 signed agreements, 50 panel discussions, and 10 workshops. Over the past year, both sides have organized a wide range of economic events aimed at strengthening their partnership.
