Saudi Arabia's Minister of Industry and Mineral Resources Bandar Al-Khorayef recently discussed localization opportunities for advanced industries with leaders of major Spanish companies, which are central to the national industrial strategy of Saudi Arabia. These industries include the localization of heavy-duty drone manufacturing and components, automotive design and engineering, shipbuilding, and maintaining supply chains for these sectors.
Al-Khorayef recently began his official visit to Spain, focusing on opportunities to enhance human resource development in the industrial and mining sectors, and to explore sustainable mining solutions. During bilateral meetings with Spanish companies in Madrid, Al-Khorayef explored joint opportunities in manufacturing drones and cars, as well as advancing geological surveys. The Saudi ambassador to Spain, Princess Haifa bint Abdulaziz Al-Muqrin, and the CEO of the National Industrial Development Center, Saleh Al-Sulami, attended the meetings.
Among the Spanish companies that Al-Khorayef met with was IDIADA, known for automotive design and engineering. He also met with Ana Maria Alonso Zarza, director of the Spanish Geological and Mining Institute, to discuss cooperation opportunities in geological research and the provision of high-quality, accurate geological data for various scientific and industrial applications.
In terms of trade, Saudi Arabia's non-oil exports to Spain reached 2.72 billion Saudi Riyals in 2023. These exports included chemical products, plastics and their derivatives, basic metals and their products. In the same year, non-oil imports from Spain amounted to 9.13 billion Saudi Riyals.
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