Council History

Founded in 1993

The U.S.-Saudi Business Council is the first and only bilateral institution created specifically to advance private-sector business, investment, and partnership between the Kingdom of Saudi Arabia and the United States.

The Council is governed by a bilateral Board of Directors, co-chaired by Lubna S. Olayan, Chair of the Corporate Board, The Olayan Group and Chair, Saudi Awwal Bank (SAB), and Jane Fraser, Chair of the Board and Chief Executive Officer, Citi. Board composition consists of senior executives from leading American and Saudi companies.

In 1993, the Council was established by Saudi Royal Decree and concurrent action of the United States Executive Branch through the Treasury Department as a bilateral, non-governmental organization devoted to U.S.-Saudi business. This underpins the Council’s foundational authority.

Over more than three decades, the Council’s evolution has paralleled the transformation of the Saudi economy itself, moving from basic trade promotion to high-value, strategic partnership building across every major sector.

As the bilateral commercial relationship deepened, the Council became the natural platform for high-level engagement. The Council hosted dinners and business forums for Saudi leadership during official U.S. visits, including the 2015 official state visit of His Majesty King Salman and His Royal Highness Crown Prince Mohammed bin Salman to Washington, D.C., and visits by His Royal Highness Crown Prince Abdullah bin Abdulaziz and His Royal Highness Prince Sultan bin Abdulaziz.

Today, the Council is again recognized as the premier bilateral organization for business, trade, and investment between the United States and Saudi Arabia. The Council has conducted scores of trade and investment missions and hundreds of business seminars; responded to tens of thousands of company requests for market intelligence, partner identification, and regulatory guidance; built sector expertise across manufacturing, petrochemicals, energy, mining, healthcare, education, defense, infrastructure, and technology; and developed a reputation for impartial, practical, and results-oriented support for both Saudi and American firms.

King Salman's Visit to the United States 2015

2025 Year in Review

2025 marked a defining year for the U.S.-Saudi Business Council. It was not simply a year of growth – it was a year of transformation.

In 2025, as a foundational step in a major Board realignment, the Council welcomed two globally renowned business leaders as Co-Chairs of its Board of Directors: Lubna S. Olayan, Chair of the Corporate Board, The Olayan Group and Chair, Saudi Awwal Bank (SAB), and Jane Fraser, Chair of the Board and Chief Executive Officer, Citi.

Against the backdrop of deepening bilateral engagement and accelerating economic alignment between the United States and the Kingdom of Saudi Arabia, the Council reaffirmed and strengthened its position as a hub for business, investment, and strategic partnership.

These efforts culminated in a series of high-profile engagements, most notably around the visit of President Donald J. Trump to Riyadh and the visit of His Royal Highness Crown Prince Mohammed bin Salman to Washington, D.C., both of which underscored the depth and momentum of the U.S.-Saudi economic relationship and the Council’s role in supporting it at the highest levels.