Foreword by The Honorable Michael Kantor U.S. Secretary of Commerce "Strategic considerations have made us allies, but the ties of trade have brought us truly together."

Dear Friends:

Saudi Arabia is our close ally and our most important trading partner in the Middle East and North Africa region. This relationship is based on mutual strategic interests and the very real benefits of our long-term commercial and economic partnership. Strategic considerations have made us allies, but the ties of trade have brought us truly together.

 Since the 1930s, when U.S. companies discovered oil in Saudi Arabia, American firms have participated substantially in the development of modern infrastructure and industry in Saudi Arabia. Saudi exports of oil to the United States have stimulated demand for the importation of goods and services, greatly expanding commercial relations between our two countries in four important sectors: oil, manufactured goods, investments, and services.

 More than 35,000 Americans live and work in the Kingdom, participating in more than two hundred joint ventures. In 1995, over $12 billion in aircraft, telecommunications, and power projects were awarded to American companies. The United States also heads the list of foreign countries investing in Saudi Arabia with total investments of over $4.9 billion, representing approximately 43 percent of total foreign investments in the Kingdom. We hope to continue this dynamic trend.

 Over the past two years, the Saudi government has taken significant steps designed to improve the Kingdom’s trade and investment climate. With economic reform, efforts to integrate into the international community, and the possibility of privatization of major sectors of the economy, Saudi Arabia will continue to be the most important market for U.S. products in a crucial region of the world.

 I commend this fifth edition of "A Business Guide to the Kingdom of Saudi Arabia" as a further contribution to our ever stronger commercial and economic relationship.

Michael Kantor