Saudi Arabia recognizes the vital importance of the globally strategic sea routes . The aim of SIM 2019 is to share common views/concerns between representatives of the international community.
SIM has been developed to allow partners to work together to achieve these objectives.
Cooperation at all levels between nations is essential to ensure security of internationally strategic sea routes
Secure Middle Eastern trade routes is of vital importance to all nations and while Global security is becoming increasingly unstable, naval forces are essential in protecting the national, regional and international interests.
The Middle East accounted for 45% of global crude exports and 31% of global LNG exports in 2017. An estimated 4.8 million barrels per day (mb/d) of crude oil and refined petroleum products flow through Bab El Mandeb each day,
90% of the world’s trade goes by sea. More importantly, the ships passing through the Middle East region carry not just oil but vital food supplies and raw material as well.
By 2050, shipments of raw materials are likely to double to Western economies and quadruple to other regions and global freight trade could grow between 330-380%