A joint committee for economic cooperation between Bulgaria and Saudi Arabia is established. An agreement to this effect was signed today between the Minister of Economy and Industry Nikola Stojanov and the Minister of Economy and Planning of Saudi Arabia Faisal Al-Ibrahim. The Committee is another instrument for promoting the economic and investment partnership, with regular meetings on specific topics important for both countries.
‘The agreement is a foundation and a necessary step to deepen economic cooperation and realise the huge potential that exists between our two countries. It provides an opportunity to deepen the talks and create real preconditions for more joint projects,’ Minister Nikola Stojanov said.
The two ministers also discussed the forthcoming signing of an agreement on mutual protection and promotion of investments, and Minister Faisal Al-Ibrahim stressed that the dialogue between the two countries in recent months has been at a very high level, which is also a prerequisite for more joint projects.
The ministers also talked about potential areas for cooperation, in which there is increased interest from companies on both sides. Minister Nikola Stojanov stressed that after his visit to the Saudi country in January this year, talks have started with Saudi companies from the mining industry and expects their representatives to visit the country in the coming months to get acquainted on the ground with the opportunities of this sector. ‘The dairy industry has already identified specific initiatives on which work continues,’ Minister Stojanov said. He added that Bulgaria highly appreciates the ‘Vision 2030’ plan of the Saudi side, which aims to completely change the economy of the kingdom and stressed the interest in exchanging experience in knowledge-based sectors.
Saudi Arabia’s Minister of Economy and Planning Faisal Al-Ibrahim is visiting Bulgaria at the invitation of Minister Nikola Stojanov.