Editor’s Note:
On the sidelines of the US-Saudi Business Opportunities Forum in Chicago today we talked with Thomas Lippman, former newsman, scholar and author of several books on Saudi Arabia and the Middle East, including “Inside the Mirage: America’s Fragile Partnership with Saudi Arabia.” We asked him to comment on the opening day of the conference especially the implications of an event that has attracted such a large number of distinguished business people and government officials.
U.S.-Saudi Business Opportunities Forum
On the Sidelines with Thomas Lippman
SUSRIS: Is this a milestone event in the relationship between the United States and Saudi Arabia?
Lippman: It’s hard for me to know what kind of business conversations are going to go on other than the formal presentations. It made it possible to set up conditions for Americans and Saudis to interact and talk about opportunities and they may well be doing that. It’s really hard to know in the short term.
I was interested in the comments from the Saudi panelists including the oil minister and the director of the Capital Markets Authority, that they’re not seeing even now, enough investment in the new Saudi Arabia, and all the things going on in Saudi Arabia. We’ve been hearing this for a couple of years now and I think that’s part of the Saudi motivation for participating in this event at such a high level.
For individual Americans who are in business, they’re not here to do business with the oil minister or the commerce minister. There area a lot of Saudi business people here and there is an opportunity if you want to avail yourself of it to talk with them about what lines of investment or partnerships you might want to pursue. It’s a very good opportunity.
SUSRIS: How would you characterize an event like this – a thousand plus participants, a couple of hundred Saudis – in terms of its meaning to the overall relationship?
LIPPMAN: To me what is interesting about this is that, although you have to sign up to register, this is actually a very public event. There’s press coverage. It’s open to the media. There is no secret about it. The journalists are here. For me that’s an important step for the American business community, including existing members of the US-Saudi Arabian Business Council. They certainly, at least since 9/11
but even before that, have been a bit circumspect on doing business with Saudi Arabia. All that is off the table now. This is certainly very healthy atmospherically for both sides.
SUSRIS: Is this a new normal in the relationship?
Lippman: I hope not. This sort of conference should not be necessary.
SUSRIS: Things should just be happening?
Lippman: People should just be doing business.
