after a cautious start in 2016 German - Saudi Arabian business activities are gaining pace again. Recently, the Minister for Energy, Industry and Mineral Resources of Saudi Arabia, H. E. Ing. Khalid A. Al-Falih, paid a visit to the Association of German Chambers of Commerce and Industry (DIHK) in Berlin. The Minister met with President Dr. Eric Schweitzer and a number of selected CEOs of German firms. Among the entourage of His Excellency was Sheikh Khaled Juffali, the designated Co-Chairman of the Saudi - German Business Council. Rumor has it that before the end of this year further high-level delegations heading for Berlin and Riyadh are to follow.
At GESALO we are particularly looking forward to the autumn months. Several German business delegations representing various sectors will fly to our host countries. I personally will frequently be presenting opportunities in Saudi Arabia and Bahrain to German SMEs. Please view the events section on our webpage (http://saudiarabien.ahk.de/en/events/) in case you wish to take part in any of these gatherings, either in Germany or here in the Gulf region.
By the way, our newsletter has a new compact format. You can now easily grasp all information without scrolling through multiple pages of a PDF file. I hope you like the made improvements! As usual, we are happy to receive any feedback.
Delegate of German Industry and Commerce for Saudi Arabia, Bahrain and Yemen
Current trade numbers
Germany – Saudi Arabia
Exports Jan - May 2016
3.243 Mio. EUR
- 20.6 %
Imports Jan - May 2016
144 Mio. EUR
- 62.4 %
Germany – Bahrain
Exports Jan - May 2016
135 Mio. EUR
- 36.3 %
Imports Jan - May 2016
12 Mio. EUR
+ 21.4 %
Get in touch with GESALO
News – Business
ThyssenKrupp wins Riyadh Metro deal
ThyssenKrupp Elevator has been awarded a contract for 641 elevators and escalators for the Riyadh Metro lines 1 and 2.
Siemens delivers first Saudi made gas turbine to Jazan
The new Integrated Gasification Combined Cycle (IGCC) power plant in Jazan has received the first Siemens gas turbine made in the recently opened factory in Dammam.
Hapag-Lloyd and United Arab Shipping Company (UASC) to merge
The German shipping firm and its Arab counterpart UASC will merge. Being one of the founding members of UASC, Saudi Arabia will have a share of 10% in the merged company via its Public Investment Fund (PIF).
Caparol opens new showroom in Riyadh
The German paint and insulation manufacturer Caparol has opened a new showroom in Riyadh as part of its regional expansion strategy.
New airport terminal in Riyadh planned
A recently announced terminal for Riyadh’s fast growing airport can provide good business opportunities for German companies.
Deadline for ISCC project extended
The Saudi Electricity Company (SEC) has extended the bid deadline for the planned 3,780MW integrated solar and combined-cycle power plant (ISCC) in Taiba to October 2nd, 2016. The costs are expected to reach USD 3 bn.
First IWP project in Saudi Arabia planned
Proposals can now be made for the financial advisory role on the new independent water project (IWP). The new desalination project shall mainly be powered by solar energy.
News – Legal
Fake Public Procurement Authority
Several companies have being invited to participate at tenders by a “Tender Board of the kingdom of Saudi Arabia” and were instructed to make payments to a foreign bank account. This institution is not an official authority. When in doubt, please contact GESALO in advance.
100% Foreign ownership in Bahrain extended
The new law will allow 100 percent foreign ownership in many important sectors like residency, food, administrative services, information and communications, manufacturing, water supplying as well as professional, scientific, technical and real estate activities.
New standards for certain food products in Saudi Arabia planned
Saudi Arabia reported amendments for standards of several food products to the WTO’s Committee on Technical Barriers to Trade.
More (German only)
Saudi Arabia on its way to implement the GCC Trade Mark Law
Saudi Arabia will be the third of the GCC states to implement this law. Currently, only Bahrain and Kuwait have implemented it.
Saudi Arabian Ministry of Labor launched new electronic labor portal “TAQAT”
The new portal is expected to become the largest virtual labor market platform in Saudi Arabia for both private and public sectors.
GESALO – News
Saudi Arabian Energy Minister Mr. Al-Falih visits the DIHK
On his recent visit to the DIHK, Mr. Al-Falih met with its president, Dr. Schweitzer, the Delegate of the German Industry and Commerce for Saudi Arabia, Bahrain and Yemen, Mr. Oehms, the new German ambassador to Saudi Arabia, Mr. Haller, the Saudi Arabian ambassador to Germany, Dr. Al-Awwad and with the CEO of Siemens, Mr. Kaeser.
German Business Delegation – Confectioneries
Saudi Arabia is the biggest market for confectionary products in the MENA region and is growing fast. Our business delegation organised on behalf of the German Federal Ministry of Food and Agriculture will visit Riyadh from October 30th to November 3rd, 2016.
GESALO - Trade fairs
Automechanika Frankfurt – September 13th – 17th, 2016
The ‘Festhalle’ of Frankfurt Fair and Exhibition Centre will be the hotspot for innovations at this year’s Automechanika Frankfurt with the subject of ‘Tomorrow’s Service & Mobility’.
GESALO – Publications
Our six publications cover all questions regarding market entry in Saudi Arabia. Our Business & Legal Guide, our Labour and Employment Law Guide as well as our Guides on public procurement and industrial property protection are unique as there are no other German language publications covering these topics in-depth. For our English language clients, we publish two directories covering the German companies in Saudi Arabia and their representatives, as well as a comprehensive directory of Saudi Arabian importing companies.
9th Export Promotion Day of North Rhine-Westphalia at CCI Ostwestfalen in Bielefeld – September 29th, 2016
You are invited to the 9th Export Promotion Day of North Rhine-Westphalia in Bielefeld on September 29th, 2016. The event is organised by the 16 Chambers of Commerce and Industry of North Rhine-Westphalia. With an expected 700 to 800 participants, it will be the largest business event in North Rhine-Westphalia this year. Joschka Fischer, German Foreign Minister ret., has been invited as a keynote speaker, and will explore the question “Is Europe Failing?” – a question even more important after the recent “Brexit” vote in the United Kingdom.
Calendar of Events
GESALO is organising a lot of events in Germany, Saudi Arabia and Bahrain. Please see our calendar on our homepage for details.