GOLF SUPPLEMENT - FORUM PARTICIPANTS Saudi Arabia

The economy of Saudi Arabia relies on oil, as the government controls most of the economic activities. The kingdom serves as the leader of the OPEC, as it controls approximately 20% of the world"s proven oil reserves. It is also the number one oil exporter in the world. The oil sector accounts for 80% of the budget revenue, 45% of the GDP and 90% of the revenues from export.The authorities are encouraging the growth of private sector, in order to allow the economy to diversify. The efforts are directed towards energy, telecommunications, the exploration of natural gas and petrochemical industry. The government has set up six "economic cities" in various regions to encourage foreign investments and plans to spend 383 billion dollars between 2010 and 2014 on social development and infrastructure projects, in order to stimulate the economy.

• Relations with Romania

The commercial exchange between Romania and Saudi Arabia take place directly with Saudi companies, and indirectly through companies of Lebanon, Jordan, Kuwait, Syria, United Arab Emirates.

The main types of products exported to Saudi Arabia are: wood and wood products, metallurgic products, marble, paper and cardboard, lamps, electrical engines, cables, fertilizer, textiles, confections, food products, livestock, tires, electrical counters, oil equipment and accessories, industrial boilers. Imports from Saudi Arabia consisted of mineral oils, sulfur, chemical products, furniture, carpets and dates (Phoenix dactylifera).

Arabia Saudită