Saudi Arabia And Syria Forge Investment Agreement To Strengthen Economic Ties

The Saudi-Syrian Roundtable Meeting took place on Monday, featuring Minister of Investment Khalid Al-Falih and Syria’s Minister of Economy and Industry Dr. Mohammad Nidal Al-Shaar. Representatives from the private sector and companies from both nations also participated. This meeting was part of an official visit aimed at enhancing economic cooperation and regional integration between the two countries.

During the meeting, discussions focused on fostering economic partnerships in key sectors. The goal was to empower the private sector, facilitate investment flows, and exchange technical expertise. These efforts aim to support investment development and empower investors in both Saudi Arabia and Syria.

An important outcome of the roundtable was the signing of an investment promotion and protection agreement between Saudi Arabia and Syria. This agreement seeks to establish practical frameworks for joint investments in industry, services, infrastructure, and tourism. It aims to develop strategic projects that benefit both nations.

Minister Al-Falih highlighted that this agreement underscores Saudi Arabia's commitment to building effective economic partnerships with friendly countries. He stated, "The agreement reflects the Kingdom’s commitment to building effective economic partnerships with brotherly countries, strengthening its role as a global investment hub, and opening new horizons for investors to explore quality opportunities that contribute to creating added value."

Syria’s Minister of Economy and Industry emphasized his country's appreciation for Saudi Arabia's pivotal role in supporting regional economic cooperation. He noted that the agreement marks a significant step toward deepening investment relations between the two nations. The minister described it as a qualitative shift toward projects that achieve mutual benefits.

The agreement aims to broaden bilateral cooperation by attracting quality investments in vital sectors. It also seeks to create a conducive business environment that aligns with the aspirations of the private sector in both countries.

The meeting was attended by senior government officials and private sector representatives from both sides. Their presence underscored a shared desire to build strategic partnerships that support economic security and stability in the region.

This collaborative effort reflects a mutual commitment to fostering economic growth through strategic alliances. By focusing on priority sectors, both nations aim to enhance their economic ties while contributing positively to regional stability.

With inputs from SPA