MEB : Saudi trade mission ‘highly promising success’
The MEB delegation was the largest in years © All rights reserved
A substantial delegation of Monegasque entrepreneurs took part in the trade mission hosted by the Monaco Economic Board (MEB) in Riyadh from January 23-27. The participants heralded the success of the trip.
47 companies, some 62 businessmen and women, made up “the largest delegation in years”, such is the attraction of the Middle East’s economic powerhouse.
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Needless to say, the three-day trip was anything but improvised, with careful preparation having taken place throughout 2023. Firstly, two reconnaissance missions served to identify opportunities and meet potential partners. Then, nearer the time, specific intercultural training, provided by MEB member La Classe, helped delegation members learn about culturally-appropriate behaviour when dealing with local contacts.
An intense 3-day programme
The intense programme began with presentations about the country itself and its rapidly evolving business environment, including testimonials from Monaco-based companies that already deal with Saudi Arabia or already have a presence in the Kingdom.
Day 1 continued with meetings with potential institutional partners, followed by a premium reception at the Saudi Arabian Chamber of Commerce in Riyadh. It ended with an opportunity to meet and exchange ideas with potential customers at the Beefbar Monaco in Riyadh, which has been representing the Principality’s art de vivre there since June 2022.
From desert to garden party
On Day 2, the mission delegates were desert bound, where they were treated to legendary traditional Saudi hospitality in a Bedouin camp. The local business figures were curious to learn more about the Principality from its first ever visiting trade mission.
A garden party, at the invitation of Monegasque residents who are very well-connected in Saudi Arabia, brought together the entire delegation and a number of foreign dignitaires, among others. The trip ended with a visit to the at-Turaif District in ad-Dir’iyah to discover the huge project to rebuild and extend the centre of Riyadh from the UNESCO world heritage site, a project whose ambitious nature reflects that of the country as a whole.
The Riyadh E-prix took the delegation over the finish line.
Many of the participating companies came away highly satisfied with what they had seen and heard. Saudia Arabia is a young and still relatively unknown country, with huge business potential for those who manage to establish strong links. Mission accomplished for this delegation, by all accounts.