RIYADH: Saudi Arabia’s trade relations with Austria are poised for growth after the Kingdom’s minister of Economy and Planning held high-level meetings during his visit to the European country.
Faisal bin Fadel Al-Ibrahim, who visited Vienna to participate in a roundtable discussion, held talks with the Austrian Industries Federation, a prominent representative of the nation’s manufacturing sector.
The association plays a crucial role in Austria’s economic landscape, with its members accounting for over 80 percent of the country’s assembly workers, as reported by the Saudi Press Agency.
The minister emphasized the importance of fostering collaboration between the two countries across various sectors, including trade and investment and enhancing partnerships with the private sector to serve common interests and promote mutual benefits.
Amid enhancing the economic ties between the Kingdom and other European countries, Al-Ibrahim also led the delegation at the sixth session of the Saudi-Portuguese Joint Committee to strengthen relations between regions.
The meeting reviewed investment opportunities between Saudi Arabia and Portugal and explored avenues for further partnership.
On the sidelines of the event, a new agreement was inked between the Kingdom’s General Authority of Civil Aviation and the Portuguese Ministry of Infrastructure.
The contract plans to establish aviation services that provide the highest levels of safety and security, improve trade interaction, and boost economic growth between the two countries.
According to SPA, the deal is one of several contracts signed during Al-Ibrahim’s visit to Lisbon. These agreements aim to boost commercial ties and increase collaboration between Riyadh and Lisbon.
In September, Saudi Arabia boosted business ties with Slovenia as the Kingdom looks to establish trade links amid its economic diversification drive.
The minister supervised the signing of a memorandum of understanding during a visit to the country to create a specialized business council between the two nations.
These trips align with Vision 2030 objectives and reflect the Kingdom’s commitment to fostering global connections and enriching international ties.
In February, Al-Ibrahim held talks with the French Minister of Economy, Finance and Industrial and Digital Sovereignty, Bruno Le Maire, with the pair discussing boosting economic relations, investment opportunities and topics of common interest.
