Boeing's international president has told CNBC that Saudi Arabia was a "very important market" for the company.

Marc Allen said Sunday that the airline manufacturer would continue to operate in the region despite increasing political instability and concerns over a conflict between the Kingdom and arch-rival Iran.

"Saudi Arabia is a very important market. We've been in Saudi Arabia for 70 years and we fully expect to be there for the next 100 years," Allen told CNBC.

"So the way that we approach the market as we do in most places is around partnership and it's about creating a deeply interwoven fabric of our capabilities and the customers' needs and then helping the customer grow in their capability so we're growing together."

He added: "So that's the model, that's what we've been doing and it's been working well. And we think it will be a very important part of the business going forward."

Boeing has said previously that it views Saudi Arabia's "Vision 2030," a program of economic and social reform, as an opportunity.