Lorcan Tyrrell

TBY talks to Lorcan Tyrrell, Chairman of the European Chamber of Commerce in the Kingdom of Saudi Arabia (ECCKSA), about aligning with Saudi Arabian national strategy, collaboration, and economic integration between the EU and the KSA.

As the newly established European Chamber of Commerce in the Kingdom of Saudi Arabia, could you provide an overview of ECCKSA’s mission and primary objectives within the Kingdom?

The European Chamber of Commerce in the Kingdom of Saudi Arabia (ECCKSA) was initiated by the EU Commission and established by its founding members from the leading European businesses operating in the Kingdom to act as a central platform for strengthening the economic and business ties between Europe and the Kingdom. Our mission is to serve as a unified voice for European businesses in the Kingdom of Saudi Arabia, fostering dialogue and collaboration with local stakeholders. Our primary objectives include:

• Enhancing trade and investment: By bridging European and Saudi business interests, we aim to unlock new opportunities for bilateral trade and encourage investments in strategic sectors while be an advocate for policy enhancements to support this
• Providing market insights: We equip European businesses with comprehensive market intelligence, enabling them to navigate the Saudi landscape effectively and capitalise on emerging opportunities
• Industry-level approach: Through our Sectoral Committees, we bring together industry leaders and policymakers to address challenges, share expertise, and shape innovative solutions across key sectors
• Promoting collaboration across key industries: ECCKSA is committed to fostering partnerships across key industries that align with Saudi Vision 2030, supporting sustainable growth and encouraging the exchange of knowledge and best practices

Aligning with Saudi Arabia’s Vision 2030, how does ECCKSA plan to contribute to the Kingdom’s ambitious goals through its initiatives and collaborations?

Aligning closely with Saudi Arabia’s Vision 2030, ECCKSA is dedicated to supporting the Kingdom’s transformation by leveraging European expertise and fostering meaningful collaborations. With a shared commitment to innovation, inclusivity, and diversification through sustainability–core priorities of both Vision 2030 and the European Union–ECCKSA serves as a bridge to strengthen economic and social ties between the two regions. Through its initiatives, ECCKSA actively promotes European capabilities in sectors critical to Saudi Arabia’s diversification goals, such as clean energy, healthcare, mobility, logistics, technology and innovation, and others. By supporting foreign direct investment and addressing market entry barriers, ECCKSA ensures that European businesses can seamlessly contribute to the Kingdom’s evolving economy. At the same time, events like the ECCKSA Women in Leadership underscore our alignment with Vision 2030’s focus on inclusivity, highlighting the importance of gender diversity and empowerment in driving sustainable development. Moreover, green transition lies at the heart of ECCKSA’s efforts, reflecting a strong alignment with both Vision 2030 and European Union priorities. By fostering collaborations in renewable energy, best sustainability practices, and green technologies, ECCKSA helps advance shared environmental goals. Additionally, its sector-specific roundtables and events encourage the exchange of knowledge and expertise, enabling European and Saudi businesses to work together on solutions that support the Kingdom’s transformation. This alignment of priorities positions ECCKSA as a key partner in achieving the objectives of Vision 2030.

As a newly established entity, what unique role does ECCKSA envision for itself in promoting trade, investment, and economic cooperation between European and Saudi businesses?

As a newly established entity, ECCKSA aims to be a key driver of trade, investment, and economic cooperation between European and Saudi businesses. By serving as a platform connecting businesses with policymakers, ECCKSA facilitates dialogue and advocates for favorable trade policies and regulatory frameworks. The Chamber is dedicated to promoting ethical, sustainable, and innovative business practices, aligning with European values and Saudi Vision 2030. Through our initiatives, we foster meaningful collaborations across key sectors, creating synergies and driving mutual growth. ECCKSA’s unique role is to act as a bridge between the regions, ensuring that partnerships contribute to long-term economic and social progress.

Could you discuss the main insights and KPIs that the organization has identified regarding the presence and activities of European businesses in Saudi Arabia?

For us, success is defined by our recognition as an organization that can effectively represent the collective interests of European companies across various industries. One of the key indicators of this success is the fact that the Saudi government already identifies us as a trusted contact point for feedback on policy developments, underscoring our growing credibility in the Kingdom. Another significant insight is the increasing presence of European companies in Saudi Arabia, with many of our members having already relocated their regional headquarters to Riyadh, signalling their commitment to expanding operations in line with Saudi Arabia’s Vision 2030. This shift demonstrates the confidence European businesses have in the Kingdom’s long-term potential. As of now, ECCKSA has established over 1,000 business contacts, and we are actively launching key sectoral committees, including those focused on mobility, energy, women in business, and healthcare. These committees aim to further strengthen the engagement of European companies in relevant sectors and contribute to Saudi Arabia’s economic diversification efforts. Our members collectively employ over 23,000 people in Saudi Arabia, underscoring the significant contribution of European businesses to job creation and local economic growth. Additionally, European companies consistently express strong interest in areas such as energy, the green transition, and transport projects. These sectors align with Saudi Arabia’s strategic priorities, and European companies are well-positioned to contribute their expertise to help drive forward the Kingdom’s ambitious transformation.

What are some of the key challenges ECCKSA anticipates in promoting economic integration and fostering mutual prosperity between the EU and Saudi Arabia?

One of the key opportunities ECCKSA embraces in fostering economic integration between the EU and Saudi Arabia is addressing knowledge gaps about the Kingdom among European companies. Saudi Arabia is undergoing a remarkable transformation under Vision 2030, offering a dynamic market, a reliable business environment, and an exceptional quality of life for expatriates. However, some European businesses remain unfamiliar with the Saudi market and may still hold outdated perceptions about its culture, lifestyle, and opportunities. ECCKSA sees this as a chance to showcase the modern reality of Saudi Arabia. By acting as a “home away from home” for European businesses, the Chamber provides a welcoming and supportive environment, equipping companies with the tools and knowledge to navigate this vibrant market. Through market insights, tailored events, and a strong network, ECCKSA highlights Saudi Arabia’s reputation as a trustworthy business partner and a hub of innovation and exceptional hospitality. By addressing these knowledge gaps and fostering greater understanding, ECCKSA plays a crucial role in building trust and strengthening relationships. This proactive approach ensures that European businesses not only recognize the vast potential of the Saudi market but also thrive within it, driving meaningful economic integration and shared prosperity for both regions.

How is ECCKSA actively promoting Saudi Arabia’s economic opportunities and fostering interest among European businesses and stakeholders?

ECCKSA is actively promoting Saudi Arabia’s economic opportunities by serving as a dynamic platform that connects European businesses with key stakeholders in the Kingdom. Through industry-specific roundtables, high-level conferences and technical webinars, the Chamber facilitates networking between business leaders, government representatives, and the diplomatic community. These gatherings provide a valuable space for dialogue. By bringing together diverse stakeholders, ECCKSA helps ignite collaboration across key sectors, highlighting the Kingdom’s economic potential.

Which sectors are witnessing the highest levels of interest for foreign investment by European businesses in Saudi Arabia, and how does ECCKSA plan to support and enhance opportunities in these sectors?

Several sectors in Saudi Arabia are witnessing significant interest from European businesses, reflecting the Kingdom’s dynamic economic transformation under Vision 2030. Key areas of focus include energy and the green transition, where European expertise in renewable projects and sustainable technologies is important; healthcare, with opportunities for innovation in medical technology and capacity building; and logistics and transport, as Saudi Arabia advances its infrastructure and mobility networks to become a global logistics hub. In addition, technology, innovation and digital transformation are critical areas for investment, further expanding opportunities for European companies. ECCKSA plays an important role in ensuring that European companies have the best possible opportunities to succeed by providing market insights, organizing sector-specific events, and bringing together companies from across European countries to collectively raise their issues at a policy level.

How important are collaborations and partnerships with local governments, businesses, and other stakeholders for the success of your development and initiatives? What are some of the key partnerships that ECCKSA is targeting to enhance its operations?

As we align our efforts with Saudi Arabia’s Vision 2030, these partnerships allow us to create impactful initiatives. Strong relationships with key ministries and government institutions, such as the Ministry of Investment (MISA), the Ministry of Economy and Planning, the Ministry of Transport and Logistics Services, the Ministry of Commerce, and the Federation of Saudi Chambers, and others, are pivotal. These entities view the ECCKSA as a vital platform for receiving industry-level feedback from European companies, which in turn contributes to shaping policy and fostering an enabling environment for business. Moreover, our exceptional collaboration with the EU Commission, the European Delegation in the Kingdom of Saudi Arabia and the European Member States embassies further enhances our work. We engage with various Directorate-Generals within the EU to provide a comprehensive European perspective on relevant topics, strategies, and best practices that can be adopted in the Kingdom. This collaboration has gained recognition at the highest levels, as highlighted by the EU Commission President Ursula von der Leyen during the EU-GCC Summit.

Could you discuss any notable collaborations that have significantly contributed to the success of your initiatives in Saudi Arabia?

Most of our initiatives focus on fostering knowledge sharing by uniting diverse stakeholders. For instance, our “Women in Leadership – Connecting for a Sustainable Future” event organized in October brought together esteemed speakers and panelists from both Saudi and European governments such as the MISA and the Ministry of Sport, the diplomatic sector, academia, and corporate representatives from both local and European businesses. This inclusive approach allowed for multifaceted discussions, offering a comprehensive view of the challenges and opportunities surrounding women in leadership, and promoting the advancement of gender diversity in leadership roles in Saudi Arabia, Europe and globally. By facilitating dialogue among a diverse group of participants, we are able to create an impactful platform that not only addresses key issues but also contributes to shaping meaningful strategies aligned with Saudi Arabia’s Vision 2030.

In its inaugural year, ECCKSA seeks to lay down strategic milestones to foster deeper economic integration between the EU and Saudi Arabia: what specific goals does ECCKSA aim to achieve by the end of the year to strengthen economic ties between the EU and Saudi Arabia?

First and foremost, we are focused on growing our community of European businesses, including both leading European companies and SMEs. We have already taken significant steps towards this objective by launching sectoral committees, which have received great support from leading European companies operating within these industries. The Mobility Committee has already been established, and the formation of the Energy Committee was initiated following our successful Energy Roundtable. Additionally, we are in the process of creating the Women in Business Committee, and there is growing interest in establishing a Healthcare Committee, with support from major players in the sector. Through these efforts, ECCKSA aims to strengthen its role as a trusted partner for both EU and Saudi entities, fostering deeper economic integration and collaboration. By the end of 2025, we hope to have laid a solid foundation for these committees and initiatives, ensuring that we are established as the reference Chamber for European businesses in Saudi Arabia. We have enjoyed great support from EU and KSA in particular through MISA and we look forward to uniting business and helping Saudi Arabia reach its ambition in years to come.