Britain and Saudi Arabia target £65b trade and investment ties

[LONDON] Britain and Saudi Arabia set out an ambition to build £65 billion (S$118.7 billion) of trade and investment ties in coming years, London said on Wednesday, calling the agreement a vote of confidence in the British economy ahead of Brexit.

"The meeting agreed a landmark ambition for around £65 billion of mutual trade and investment opportunities over the coming years, including direct investment in the UK and new Saudi public procurement with UK companies," a spokeswoman from Prime Minister Theresa May's office said in a statement.

"This is a significant boost for UK prosperity and a clear demonstration of the strong international confidence in our economy as we prepare to leave the European Union."

REUTERS