Saudi Arabia Expands Major Economic Deals with UK, Kuwait, Uzbekistan

Saudi Arabia and the UK have strengthened their economic partnership by signing investment agreements worth approximately $5.3 billion at the Great Futures Summit in London, supporting sectors such as financial services, technology, clean energy, mining, chemicals, and biotechnology. These deals are expected to create more than 180 jobs across both countries, with significant investments including Alfanar's new UK headquarters focused on transport decarbonization and International Investment Gate's European headquarters managing UK assets and a property fund. Bilateral trade between the two nations exceeded $21.5 billion in 2024, with a target of $30 billion by 2030, and ongoing progress in free trade agreement talks with the GCC promises to further boost economic growth and wages in the UK. In addition, Saudi Arabia continues to expand cooperation with other Gulf countries, exemplified by a new memorandum of understanding with Kuwait to enhance civil-service affairs and administrative development. Saudi-Uzbek collaboration is also advancing, with a $24 billion portfolio focusing on green energy projects, including green hydrogen production, signaling a commitment to sustainable industrial partnerships. Overall, Saudi Arabia is actively diversifying and deepening its international economic and technical partnerships across multiple regions and sectors.