The UAE-Saudi Business Forum, sponsored by the Ministry of Presidential Affairs, today launched at the Emirates Palace Hotel in Abu Dhabi, under the slogan, "Together Forever".

The launch was attended by Sultan bin Saeed Al Mansouri, Minister of Economy, Dr. Majid Bin Abdullah Al Qasabi, Saudi Minister of Commerce and Industry, and Saif Mohammed Al Hajeri, Chairman of the Department of Economic Development in Abu Dhabi, as well as several officials and businessmen.

The forum is the outcome of the "Determination Retreat" between the UAE and Saudi Arabia, which aimed to enhance their trade and economic cooperation, strengthen their ties and create new investment channels, to promote diverse sources of income while attracting new economic investments and increasing their volume of non-oil exports.

The Saudi delegation comprises more than 120 participants from various sectors of government, businessmen and businesswomen, and entrepreneurs.

The UAE is one of the leading investors in Saudi Arabia, with its total investments exceeding AED30 billion in more than 16 vital sectors and economic activities, including contracting and real estate.

There are also 32 major Emirati companies and investment groups with major investment projects in Saudi Arabia.