Economic ties between Taiwan and Saudi Arabia received a strong boost this week as both sides marked a major milestone. Taiwan’s Deputy Foreign Minister Wu Chih-chung highlighted the importance of the relationship during a reception in Taipei celebrating the 95th anniversary of Saudi Arabia’s founding.
Wu emphasized that Saudi Arabia remains Taiwan’s leading partner in the Middle East and its 17th largest global trading partner. He explained that bilateral trade reached NT$9.4 billion, or about US$320 million, in 2024. Energy plays a central role in the partnership, with Saudi oil providing nearly one-third of Taiwan’s crude imports.
According to Wu, this steady energy supply supports Taiwan’s industrial competitiveness and secures the foundation for long-term growth. He also pledged that Taipei would continue strengthening cooperation in investment, education, agriculture, and tourism. Wu noted that both sides could benefit from expanding exchanges in technology and innovation as well.
The reception also introduced Mohammed S. A. Alghamdi, the new representative of the Saudi Arabian Trade Office in Taipei. Alghamdi praised the rapid transformation of the Saudi economy, pointing out that the kingdom had joined the ranks of the world’s top 20 economies. He added that Taiwan can play a role in supporting Saudi development strategies that emphasize diversification beyond energy.
Taiwanese officials also underscored their goal of increasing presence in Islamic markets. Religious connections continue to grow, as groups organized by Taiwan’s Chinese Muslim Association and the Taipei Grand Mosque Foundation successfully completed the Hajj this year. Their smooth journeys underscored Taiwan’s commitment to cultural and spiritual links with Saudi Arabia.
Observers see the relationship as strategically important because it combines economic strength with cultural understanding. Taiwan relies heavily on stable energy supplies, while Saudi Arabia benefits from partnerships that bring advanced technology and reliable trade partners. This balance helps ensure mutual benefits and creates opportunities for new ventures.
Looking ahead, Taipei plans to deepen cooperation with Riyadh in multiple sectors. Officials believe that expanding collaboration will not only boost trade but also create opportunities for cultural exchange and shared growth. The focus on long-term development shows that both sides aim to reinforce economic ties and ensure stability in their partnership.
