The Ministers of Economy of Syria and Saudi Arabia Discuss Enhancing Investment and Industrial Cooperation in Riyadh

The Syrian Minister of Economy and Trade, Dr. Mohammad Nidal Al-Shahr, met with his Saudi counterpart, Minister of Commerce Dr. Majid Al-Qasabi, on Sunday, August 17, in the capital Riyadh, to discuss ways to develop bilateral relations and increase investment opportunities between the two countries.

Both sides emphasized during the meeting the "importance of strengthening the bonds of love and connection between the two countries, and working together to face global economic challenges". New prospects for cooperation in industrial and commercial fields were also discussed to support joint investments and develop the Saudi and Syrian economies.

This meeting comes as part of an official visit by the Syrian Minister of Economy leading a high-level delegation, aimed at enhancing trade exchange and economic relations between the two countries. The delegation is scheduled to hold a meeting on Monday with the Saudi Minister of Investment, Engineer Khalid Al-Falih, as part of the "Round Table" activities, in preparation for signing a joint cooperation agreement.

The delegation will also meet with the Saudi Minister of Industry and Mineral Resources before concluding its tour with a visit to the Public Investment Fund headquarters and a meeting with the Fund's governor.

It is noteworthy that this visit comes weeks after the "Syrian-Saudi Investment Forum" was held in Damascus on July 24, which witnessed the participation of ministers, businessmen, and investors from both sides, resulting in the signing of 47 agreements and memorandums of understanding worth 6 billion dollars, in a step described as "qualitative" to enhance the strategic partnership between the two countries.