On May 11, 2018, U.S. and Saudi government officials from the Ministry of Commerce and Investment and the Office of the United States Trade Representative held a U.S.-Saudi Trade and Investment Framework Agreement (TIFA) meeting. The meeting built on the previous TIFA arrangements and explore a framework for further dialogue on trade and investment between the United States and Saudi Arabia.
In advance of the formal meetings, the U.S.-Saudi Arabian Business Council, “the Council,” hosted a Business Roundtable with the delegation from Saudi Arabia headed by H.E. Abdulrahman Al-Harbi, Deputy Minister, Ministry of Commerce and Investment. The roundtable was held on Thursday, May 10 from 11:00 am -1:00 pm Eastern Standard Time.
The Roundtable served as an opportunity for the U.S. and Saudi public and private sectors to think collectively on issues that affect the bilateral trade and investment as well as efforts to address those concerns. More than 60 attendees participated in the Roundtable, representing U.S. and Saudi companies and business associations engaged in bilateral business and investment as well officials of the U.S. and Saudi delegations to the TIFA meeting.
Topics discussed included the Saudi pharmaceutical, U.S. steel tariffs, Intellectual Property Rights, and Saudi customs regulations. During the roundtable, presentations were delivered on the Kingdom’s Improved Clearance Program (ICP), as well as by Tayseer, an organization which operates under the Council of Economic and Development Affairs. A copy of the the Saudi Customs presentation is available here and to view a copy of the Tayseer overview click here.