Saudi Arabia and Switzerland Strengthen Financial Cooperation
Officials from Saudi Arabia and Switzerland gathered in Zurich for the 4th Saudi-Swiss Financial Dialogue, signaling a deepening of cooperation in finance and economics.
Focus on Macroeconomic Outlooks and Bilateral Economic Initiatives
Led by Saudi Arabia’s Finance Minister Mohammed Al-Jadaan, the event aimed at enhancing macroeconomic outlooks, fostering international multilateral cooperation, and advancing specific bilateral economic initiatives.
Robust Trade Relationship Between the Countries
In 2023, Saudi Arabia exported $810.67 million worth of goods to Switzerland, while Swiss exports to the Kingdom totaled $6.77 billion, highlighting the strong trade relationship between the two nations.
Quotes from the Officials
Al-Jadaan emphasized the growing relations between Saudi Arabia and Switzerland, stating that the dialogue embodies the keenness of both nations to deepen cooperation in various fields, especially in finance and economics.
He also expressed the Kingdom’s aspiration to explore new areas and markets to strengthen cooperation between the two nations.
Swiss Business Leaders Explore Trade and Investment Prospects in Saudi Arabia
Earlier in February, a delegation of Swiss business leaders visited Saudi Arabia to explore trade and investment prospects in the Kingdom, led by Swiss Federal Councillor Guy Parmelin.
Swiss-Saudi Cooperation Agreement Signed During Official Visit
During an official visit to Riyadh in November 2022, Swiss Finance Minister Ueli Maurer met with his Saudi counterpart and signed a cooperation agreement to inaugurate the third Saudi-Swiss Financial Dialogue.
Maurer highlighted the importance of bilateral dialogues in developing economic activities in both countries and strengthening Switzerland’s role as a strategic partner for Saudi Arabia in achieving the goals of Vision 2030.