Saudi Arabia, Latvia Forge Bilateral Agreement to Foster Trade, Investment
(MENAFN) Saudi Arabia, Latvia have entered into a bilateral agreement aimed at boosting trade relations and promoting investment opportunities. The agreement was signed between the Federation of Saudi Chambers (FSC) and the Investment and Development Agency of Latvia in Riyadh. The signing took place during the Saudi-Latvian Business Forum, which witnessed the participation of government representatives, local business community members, and 20 Latvian companies.
Abdulaziz Saleh Al-Mousa, a board member of FSC, and Latvian Minister of Economics Ilze Indriksone signed the deal, highlighting the mutual interest in strengthening economic ties between the two countries. The forum served as a platform to discuss the potential for Latvian businesses in Saudi Arabia's Vision 2030 projects and the broader Saudi market.
During the event, participants explored various sectors that offer opportunities for collaboration, including logistics, construction, pharmaceuticals, and information and communication technology. Both Saudi Arabia and Latvia expressed their commitment to enhancing commercial and cultural relations, with a particular focus on areas such as education, economy, culture, food, and food processing.
The agreement signifies Saudi Arabia's dedication to diversifying its economy and expanding its international trade partnerships. By fostering cooperation with Latvia, the Kingdom aims to attract Latvian investors and create new avenues for bilateral trade. The collaboration between the two countries holds the potential to bring about mutually beneficial outcomes and contribute to their respective economic growth.
MENAFN08062023000045014228ID1106410918
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.