site.btaSofia, Riyadh Mull Investment Promotion, Reciprocal Protection Agreement

Caretaker Economy and Industry Minister Nikola Stoyanov and the Ambassador of Saudi Arabia here, Khalid bin Kamal Fakih, discussed a future agreement on investment promotion and reciprocal protection of investments that will create a basis to attract more Saudi investments to Bulgaria at a meeting Friday, the Stoyanov’s Ministry said.

The organization of the forthcoming Bulgarian-Saudi Arabian Intergovernmental Joint Commission for Economic Cooperation was also deliberated, as well as boosting company-level contacts, organizing business delegations and participation in fairs and exhibitions in both countries.

Bulgaria and Saudi Arabia will partner to promote investments between the two countries, the sides underscored at the meeting.

Trade and economic relations between the two countries have traditionally been good and Bulgaria attaches importance to the opportunities for their development. "Bulgaria wishes to actively develop its economic relations with the Kingdom of Saudi Arabia," Stoyanov stressed and presented areas where Bulgarian companies have the potential to increase their exports to the Arab country.  

The Economy Minister congratulated Ambassador Khalid bin Kamal Fakih on Riyadh’s application to host World Expo 2030.