RIYADH: More than 50 companies from Slovakia are hoping to foster trade and investment partnerships with their Saudi counterparts through a special business forum, according to the Kingdom’s official press agency.
Top delegates from Saudi Arabia and the European country assembled at the first meeting of the group in Riyadh to discuss ways to cultivate their relationship and boost economic ties between both nations.
Slovak firms are seeking to explore opportunities in the Saudi market that have emerged from ongoing projects under the Kingdom’s Vision 2030 program.
Among the sectors being looked at are contracting, real estate, tourism, energy, healthcare and information technology, reported the Saudi Press Agency.
Speaking at the Saudi-Slovak Business Forum, Vice President of the Federation of Saudi Chambers Fayez Al-Shuaili pointed out that there is tremendous potential to increase the trade volume between the two countries.
He went on to say that the official opening of the Slovakian embassy in Riyadh was a crucial step towards cementing ties and consolidating economic relations.
Rudolf Michalka, Slovakia’s ambassador to Saudi Arabia, said: “The forum is the first between Saudi and Slovak businessmen, indicating that the relations between the two countries are entering a new phase in light of the great interest of the business sector in Slovakia.”
With the opening of the Slovak Embassy in Riyadh, relations between Saudi Arabia and Slovakia have flourished, with the volume of trade between the two countries rising 56 percent from 2021 to reach SR1.2 billion ($320 million) last year.
