Saudi Arabia and Switzerland hosted the first-ever Saudi-Swiss CleanTech Forum in 2023. The event brought together Swiss companies and small and medium-sized enterprises (SMEs) to showcase innovative solutions to address global challenges, combat climate change, and promote sustainability.

The forum was a partnership between the Embassy of Switzerland in Saudi Arabia, the Research, Development and Innovation Authority (RDIA), and King Abdulaziz City of Science and Technology (KACST). It aimed to boost international trade and economic ties between the two nations.

Discussions at the forum also revolved around the benefits of Saudi Arabia's Vision 2030, which strives to make the country a major industrial power and a global logistics hub.

In his keynote speech, Saudi Arabia's Minister of Economy and Planning, Faisal bin Fadel Al-Ibrahim, highlighted the importance of the partnership between Saudi Arabia and Switzerland, as well as the challenges facing the environment. He also stated that Saudi Arabia is a leading country in the Middle East for private sector investment, with around $5.5 billion invested in 2022.

Al-Ibrahim mentioned several significant projects, including the NEOM green hydrogen projects and a carbon capture facility. The NEOM green hydrogen projects, which are expected to be commissioned in 2026, will be the world's largest green energy facility and will be powered entirely by renewable energy.

Switzerland is known for its innovation and utilizes a "bottom-up" approach, with the government focusing on education and fundamental research to support companies. In an interview with Arab News, Helene Budliger Artieda, Swiss State Secretary for Economic Affairs, explained that the government's primary role is centered on funding a robust education system and supporting fundamental research at universities.

Artieda added that transitioning to a greener world is a key priority for both Saudi Arabia and Switzerland. She highlighted Switzerland's expertise in areas such as railways and water treatment and management. She also mentioned that there are various investment opportunities that Switzerland might be interested in, such as the Kingdom's vast areas, abundant solar parks, and green hydrogen initiatives.

Artieda emphasized the presence of numerous niche opportunities in the Kingdom, including investments in sustainable Saudi fashion. She noted that Switzerland has a well-established textile industry. She also expressed interest in the significant developments occurring in the global fashion industry, implying that Saudi Arabia is eager to align with global trends and standards, particularly those related to sustainability.

On Sunday, Artieda held a meeting with the minister of economy and planning to discuss ways to expand economic relationships, explore the potential for trade and investment collaboration between their respective countries, and review topics of mutual interest. She emphasized the significance of establishing a robust framework to facilitate this cooperation.

Additionally, the Saudi Press Agency reported on Sunday that Saudi Arabia's National Industrial Development and Logistics Program (NIDLP) organized a Saudi-Swiss symposium in Riyadh. The event had several objectives, including shedding light on the Kingdom's economic transformation and exploring investment opportunities between Saudi Arabia and Switzerland.

Saudi Arabia's non-oil exports to Switzerland are valued at around SR3.5 billion ($0.93 billion), while total imports from Switzerland into the Kingdom stand at approximately SR8 billion.

Overall, the Saudi-Swiss CleanTech Forum was a successful event that highlighted the importance of innovation and sustainability in addressing global challenges. The partnership between Saudi Arabia and Switzerland is a positive step towards achieving these goals.