Posted at 5:08 PM
U.S. Secretary of Commerce Penny Pritzker today delivered keynote remarks at the U.S.-Saudi Business Opportunities Forum currently underway in Los Angeles, an event being hosted by the Saudi Committee for International Trade, the U.S.-Saudi Business Council, and the Saudi-U.S. Trade Group. The event brought together approximately 1,200 American and Saudi businesses, government officials, academics and opinion leaders to highlight the U.S.-Saudi commercial and trade relationship and inform participants about business opportunities in Saudi Arabia.
During her remarks, Secretary Pritzker noted that the United States and Saudi Arabia have a strong trade and investment relationship, and last year, trade between our two countries hit all-time record highs. Our bilateral trade is now triple what it was just a decade ago.
Secretary Pritzker also noted that the Commerce Department, over the past four years, has helped more than 450 U.S. companies export to Saudi Arabia for the first time. More such partnerships are expected as Saudi Arabia’s plans for infrastructure growth allow U.S. companies opportunities to team up to build strong and vibrant Saudi communities, she said.
While in Los Angeles, Secretary Pritzker also met with Saudi Arabia’s Minister of Commerce, Dr. Taqfiq Bin Fawzan Al Rabiah. In addition, Secretary Pritzker met with Mayor Eric Garcetti and discussed the importance of trade, immigration reform and economic development to the City of Los Angeles. Secretary Pritzker and Mayor Garcetti also discussed their collaboration to help continue to spur the city's impressive growth as a global center for exports.
To conclude her day, Secretary Pritzker met with staff from the Los Angeles U.S. Export Assistance Center, which is part of the Department of Commerce’s International Trade Administration (ITA). Her visit with USEAC employees was an opportunity to thank them for their work and part of her ongoing efforts to meet with Department of Commerce employees all over the country.