Slovakia and Saudi Arabia Launch Joint Business Council Strengthening Bilateral Trade and Investment Ties

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President Pellegrini expressed Slovakia’s eagerness to provide comprehensive support for Saudi investments, commending the Kingdom’s rapid economic advancements, particularly in diversifying its economy beyond oil. He emphasized Slovakia's commitment to fostering closer ties and capitalizing on mutual interests in key sectors.

Hassan Al-Huwaizi highlighted Saudi Arabia’s commitment to improving its business climate, promoting private sector growth, and attracting international investments as part of its Vision 2030 initiative. The new business council, chaired by Abdulrahman bin Saleh Al-Otaishan, aims to identify strategic opportunities and leverage the comparative advantages of both nations to enhance economic collaboration.

Currently, trade between Saudi Arabia and Slovakia stands at approximately SAR 1.8 billion, dominated by Slovak imports. The council aims to significantly boost this figure by targeting high-potential industries and creating joint ventures. This initiative underscores the growing importance of bilateral relations as both countries seek to expand their economic horizons and foster mutual growth.

The launch of the Saudi-Slovak Joint Business Council signals a promising future for trade and investment cooperation, showcasing the potential for innovation and collaboration across sectors.