US secretary of commerce to visit Saudi Arabia

A Saudi source told ArabicNews.com that US Secretary of Commerce William Daley will hold during his visit to Saudi Arabia in middle of next month for important talks with high-ranking Saudi officials regarding means of boosting commercial and economic cooperation between the two countries.

The USA is considered the leading commercial trader with Saudi Arabia, as the volume of trade between the two countries reached last year more than 60 billion riyals ($16 billion), as Saudi imports from the US form nearly a quarter of its total imports.

Joint US projects with Saudi citizens numbered 240 with investments reaching nearly $12 billion.

Joint US - Saudi investments are focused in the industry sector in the industrial city of Jobail in fields of chemicals, petrochemicals and petroleum industries through industrial assemblies affiliate, Sabec.