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Saudi international trade expert Dr. Fawaz Al-Alami confirmed that geopolitical challenges and trade wars have driven various countries around the world to seek new strategic partnerships, noting that the world is witnessing a shift from the concept of globalization to regionalization, where regions become more influential in global trade movement in the coming period.

He explained in an interview with Al Arabiya Business that major powers view Saudi Arabia and the Gulf Cooperation Council countries as having important comparative advantages needed by global economies, while Gulf countries also seek to benefit from the competitive advantages of other countries, including Canada.

Saudi Arabia's logistics capabilities are a key factor in achieving international classifications

He added that the volume of commodity trade exchange between the Kingdom and Canada reached about 11 billion riyals last year, including 6.5 billion riyals in Saudi exports to Canada, compared to 4.5 billion riyals in Canadian imports to the Kingdom.

He pointed out that Canada is one of the largest oil countries in the world, noting that the stock of Canadian foreign direct investment in the Kingdom increased over the past ten years by 214% to reach about 6.5 billion riyals, in addition to the presence of approximately 760 Canadian companies operating in the Saudi market.

He stressed that this large trade and investment exchange will generate additional momentum in Saudi-Canadian relations, as the Kingdom will benefit from Canadian competitive advantages, while Canada will benefit from the comparative advantages provided by the Kingdom.

Regarding the mining sector, he explained that this sector is receiving increasing global attention due to the availability of rare minerals in the Kingdom, in addition to Canada's possession of important mineral resources and advanced expertise in this field.

He added that cooperation between the Kingdom and Canada in the mining sector could contribute to building strong international trade in strategic and precious minerals, pointing out that the Canadian role in supporting economic cooperation between the two countries will be an important factor in enhancing economic relations in the coming years.

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