The Federation of Saudi Chambers announced the establishment of the Saudi-Portuguese Business Council, following the approval of the General Authority of Foreign Trade (GAFT). Alwaleed bin Khaled Al-Baltan was elected chairman of the council, and Tarfa bint Abdulrahman Al- Mutairi and Turki bin Nasser Al-Khalewi vice presidents. Al-Baltan said: "The establishment of the council represents a new stage in the economic relations between Saudi Arabia and Portugal. It will enable the business sectors to have promising investment opportunities in the two countries, and strengthen trade and investment partnerships between them." He pointed out that the council will work to develop and implement particular targets in coordination with government agencies, to foster a favorable investment environment and increase trade and investment partnerships between the business sectors in the two countries, among others, in the fields of infrastructure, agriculture, tourism, technology, and renewable energy. The Kingdom exported SAR1.7 billion worth of goods to Portugal in 2023, while its imports from Portugal amounted to SAR1.1 billion. The Federation of Saudi Chambers and the Portuguese Business Federation signed an MoU in 2021 to establish the Saudi-Portuguese Business Council as an essential platform for business owners from the two countries. Source: Saudi Press Agency