Council of Ministers: Authorization of Minister of Economy to Negotiate and Sign Economic Cooperation Agreement with Serbia
Saudi Arabia and Serbia Set to Strengthen Economic Ties with New Cooperation Agreement
In a move to enhance bilateral economic relations, the Saudi Council of Ministers has authorized His Excellency the Minister of Economy and Planning to negotiate and sign an economic cooperation agreement with the Government of the Republic of Serbia. The agreement, once finalized, will lay the foundation for a robust partnership between the two countries, fostering mutual growth and development in various economic sectors.
This step comes as part of Saudi Arabia's ongoing efforts to diversify its economy and expand international cooperation in line with the goals of Vision 2030. By establishing closer economic ties with Serbia, the Kingdom aims to create new opportunities for trade, investment, and collaboration across industries, benefiting both nations.
The agreement is expected to cover a wide range of areas, including trade, infrastructure development, technology exchange, and investment opportunities. This will not only boost economic relations between Saudi Arabia and Serbia but also contribute to broader regional cooperation.
Commenting on the initiative, officials highlighted the importance of such agreements in promoting sustainable growth and facilitating the exchange of expertise and resources. The partnership with Serbia is seen as a strategic move that will help Saudi businesses expand into new markets, while also providing Serbian companies with access to one of the most dynamic economies in the Middle East.
This economic cooperation agreement marks a significant milestone in the growing relationship between Saudi Arabia and Serbia, paving the way for further collaboration and mutual benefits in the future.
