Riyadh – Decypha: The United Kingdom (UK) has offered to help Saudi Arabia diversifying its economy away from dependency on oil exports and increase the involvement of women in the workforce, a statement from the UK prime minister office stated.
As part of an agreement that is scheduled to be signed on Wednesday in Riyadh, Saudi and British Ministers of Defence, Foreign Affairs and Trade will hold a bi-annual meeting for reforming the Saudi ministries.
UK Prime Minister, Theresa May, landed in the Saudi Arabia on Tuesday, to meet King Salman bin Abdulaziz Al Saud, looking for ways to secure her country’s economy after Brexit, which will take effect in two years.
May is also scheduled to meet Saudi two crown princes as she shoots for new trade deals that would stabalise UK’s economy after leaving the European Union.
Saudi Arabia is a strategic partner to the UK as it is the destination of more than £6.5 billion of exports in 2015. Also, Riyadh purchases 40% of UK’s arms exports, according to Arabian Business.
Following wider strategy Vision 2030, the Saudi kingdom targets boosting non-oil public revenues by 2030, with a plan to push forward women’s participation in the workforce to 30%, up from 22%.
By Decypha Editorial Team
