Riyadh: The Saudi-Syrian Roundtable Meeting was convened Monday with the involvement of Minister of Investment Khalid Al-Falih, Syria's Minister of Economy and Industry Dr. Mohammad Nidal Al-Shaar, and representatives from the private sector and companies from both nations.
According to Saudi Press Agency, the gathering took place as part of an official visit, underscoring the two countries' commitment to fostering economic cooperation and enhancing regional integration. The discussions focused on potential collaborations and investment opportunities in priority sectors. Key points included empowering the private sector in both countries, facilitating investment flows, and exchanging technical and knowledge expertise to bolster investment growth and investor empowerment.
During the roundtable, an investment promotion and protection agreement was signed between Saudi Arabia and Syria. The agreement aims to establish frameworks to bolster joint investments and develop strategic projects in industry, services, infrastructure, and tourism.
Minister Al-Falih highlighted that the agreement signifies Saudi Arabia's dedication to forming effective economic partnerships with neighboring countries, enhancing its position as a global investment hub, and providing new opportunities for investors to explore ventures that contribute to adding value.
Syria's economy and industry minister emphasized his country's appreciation for Saudi Arabia's crucial role in promoting regional economic cooperation. He remarked that the agreement is a practical step towards deepening investment relations and represents a significant shift towards projects that offer mutual benefits and strengthen economic bonds between the two nations.
The agreement seeks to widen the scope of bilateral cooperation, attract quality investments in essential sectors, and create a conducive business environment that aligns with the aspirations of the private sector in both countries.
The meeting and the signing ceremony were attended by senior government officials and private sector representatives, reflecting a mutual interest in building strategic partnerships that support economic security and stability in the region.