European companies in Saudi Arabia rise to 2,500: EU Ambassador

Christophe Farnaud, the European Union Ambassador in Riyadh, stated that the total number of companies from the 27 EU member states operating in Saudi Arabia has exceeded 2,500.

These companies are active across diverse sectors, including energy, manufacturing, transport, infrastructure, digital transformation, green technologies, and logistics, Al-Eqtisadiah newspaper reported.

Farnaud highlighted that economic cooperation between Saudi Arabia and the EU is witnessing steady expansion, particularly in green energy, minerals, and digitalization. He stressed that these sectors represent key pillars of the future partnership between both sides.

The EU is Saudi Arabia’s second-largest trading partner, with bilateral trade amounting to €70 billion in 2024, showing a limited surplus in favor of the EU of just €3 billion. Bilateral trade has grown by €13 billion over the past decade, while significant untapped potential remains for a free trade agreement.

The EU ranks as the largest investor in Saudi Arabia, accounting for 29% of the Kingdom’s total foreign direct investments, Farnaud said.