Economy Minister Reiche wants to 'deepen partnership' in Saudi Arabia - Germany and Saudi Arabia deepen economic ties with high-level visits this week

Germany is strengthening its economic ties with Saudi Arabia this week. Economy Minister Katharina Reiche will lead a high-level business delegation to the kingdom on Saturday. The visit comes as both nations look to expand cooperation in energy, technology, and defence.

Chancellor Friedrich Merz will also travel to the Gulf region on Wednesday, signalling growing political engagement. With bilateral trade already exceeding €10 billion, Saudi Arabia remains Germany's most important EU trade partner in the Middle East.

Reiche's trip, lasting until Tuesday, will include key meetings in Riyadh and Jeddah. In the capital, she will hold bilateral talks and attend a session of the joint economic commission. The discussions will focus on energy, startups, artificial intelligence, and future technologies.

In Jeddah, the minister will visit German companies and mark the start of construction for new factory buildings by Juffali Commercial Vehicles. The project highlights ongoing investment in Saudi Arabia's industrial sector.

Currently, over 800 German firms operate in the kingdom, with strong growth in engineering, energy, digitalisation, and healthcare. While exact figures for 2023 are unavailable, around 1,500 German companies are active across the wider region, including Egypt. Saudi Arabia's Vision 2030 reforms have created new opportunities, particularly in clean hydrogen and advanced technologies.

Energy cooperation is a major focus, as Saudi Arabia could play a key role in Germany's shift towards a global clean hydrogen economy. The two countries also see potential in defence collaboration and emerging tech fields.

The visit aims to deepen economic and strategic ties between Germany and Saudi Arabia. With trade volumes already high and new projects underway, the partnership is set to grow further. Both sides are exploring ways to expand investments in energy, innovation, and industrial development.