GSBM December Edition 2023 | Topic: 45 Years Anniversary of GESALO

GSBM December 2023

45 Years Anniversary of GESALO

As this year marks the 45th anniversary of the GermanSaudi Liaison Office for Economic Affairs (GESALO), we proudly pay tribute to the successful cooperation with our Saudi and German partners on the following pages. On 22 August, 1978, the first office for German– Saudi economic relations was inaugurated and established by Royal Decree.

Today, the diversification of the economy in light of Vision 2030 offers increasing opportunities for German companies. The transformation process initiated fruitful exchanges between high-ranking representatives from both countries: The visit of Chancellor, H.E. Olaf Scholz and Foreign Minister, H.E. Annalena Baerbock in the last two years were answered with delegation visits from the Minister of Energy, H.R.H. Prince Abdulaziz bin Salman Al Saud and the Minister of Investment, H.E. Khalid Al-Falih. GESALO plays a crucial role in facilitating these highranking exchanges, as well as meetings between the Ministry of Energy, Aramco, the Public Investment Fund (PIF) and other key stakeholders with German off-takers.