Saudi Minister of Commerce and Industry Abdullah Zainel Alireza will head a high-powered delegation to the US for talks aimed at boosting trade and investment ties.

The Saudi delegation, comprising top officials including Ford M. Fraker, former US ambassador to Saudi Arabia under President George W. Bush, will be in New Brunswick, New Jersey, to attend a major seminar co-sponsored by the US Saudi Arabian Business Council, on March 4.

The New Brunswick program will focus on the national industrial development strategy of Saudi Arabia and the country's business, legal and trade environment.

Alireza and Fraker will anchor a nearly full day program of seminars and presentations on 'Doing business in Saudi Arabia' at the Heldrich Hotel in New Brunswick.

"There is an economic boom underway in Saudi Arabia as the country is diversifying its economy away from heavy reliance on hydrocarbons," said Edward Burton, president and managing director of the US Saudi Arabian Business Council.

Saudi Arabia is the largest economy in the Middle East, and according to Burton, "the government is spending over $1 trillion through the year 2020 in virtually all sectors to achieve its economic diversification goals."

Joan Verplanck, president of the New Jersey Chamber of Commerce and a co-sponsor of the seminar program shares Burton's enthusiasm for the opportunity the Saudi market presents to New Jersey businesses.

"New Jersey has the cutting edge product, technology and service capabilities in manufacturing, construction, health, finance, education and more that Saudi Arabia needs to power its drive to a more diversified economy," Verplanck said.

She noted that New Jersey was the 6th largest state exporter of products and services to the Kingdom in 2008 and predicted that the state's ranking "will only increase" once more state companies are aware of the opportunities that the Saudi market holds for them.

Emblematic of the Saudi push for rapid economic development and the opportunity for international business in the country is the Six Economic Cities Program, a mega project to build six new, fully integrated cities from the ground up in locations around the Kingdom.

According to Burton, the Economic Cities are expected to generate 1.3 million jobs and accommodate a population of 4.5 million people.

The cities offer a wide range of involvement opportunities for foreign businesses related to each city's specific anchor industry (petrochemicals, logistics, transportation, scientific research, energy and education) or the development of the actual metropolis itself. "The opportunities are unprecedented," he added.

Burton pointed out that the Saudis have accomplished a long series of reforms leading up to the country's admission to the WTO in 2005.

"These efforts have served to make the market accessible and transparent to international businesses," he said. He referenced a recent World Bank survey in which Saudi Arabia was ranked the 13th easiest country to do business in the world.-TradeArabia News Service