Kingdom of Saudi Arabia is the largest Arab states in Western Asia by land area of approximately 2,250,000 km². Its population is more than 27 million (18 million citizens and 9 million foreigners).

  Saudi Arabia has the world’s largest oil reserves which are concentrated largely in the Eastern Province of the country. Although the share of the non-oil economy has been growing recently, oil still accounts for more than 90% of exports and around 75% of government revenue.

  There is no doubt that oil is the backbone of the Saudi economy as the Kingdom occupies the first rank in the global oil reserves, production and exports, as well as around 20% of the total gross of the world oil reserves, in addition to other natural resources including a wide range of industrial raw materials like Bauxite, Limestone, Gypsum, Phosphate and Iron ore.

  However, the Kingdom invests tremendous efforts in its economic diversification to include industrial and trade services with other aspects. It was able to accomplish major steps in this regard, where the Kingdom was classified as one of the largest 20 economies in the world, ranked the 9th globally in terms of economic stability and also 13th as the best investment attracting environment.

  The Kingdom of Saudi Arabia has a major feature of having a robust economy and a stable market. It is one of the founding members of the arbitration agreement as well as being a member of the World Trade Organization and many other regional and international organizations. There are no restraints on the foreign exchange transactions, neither prohibition nor quantity restrictions on the imported merchandises, except for a few number of merchandises that are prohibited either for religious, national security or general health protection reasons. The custom duties on imports to the Kingdom are known to be low, and some imports are even tax-exempted.