JEDDAH: After talks at a business event in Riyadh, Saudi Arabia and Slovenia are expected to strengthen their commercial connections in the tourism, technology, and automotive sectors. On December 8, the Kingdom’s Minister of Economy and Planning, Faisal Al-Ibrahim, and the European nation’s Minister of Economic Development and Technology, Matjaz Han, participated in the Saudi-Slovenian Business Forum, which was organized by the Federation of Saudi Chambers.
According to the Saudi Press Agency, the forum also included a delegation from the nation’s Chamber of Commerce and Industry and more than 60 Slovenian businesses from nine important industries. All of them were looking to expand their business partnerships and take advantage of investment opportunities under the Kingdom’s Vision 2030 economic diversification initiative.
According to the Observatory of Economic Complexity trade data portal, Slovenia’s exports to Saudi Arabia increased from $18.4 million in 1995 to $133 million in 2021, demonstrating the two nations’ close economic relations.
According to SPA, Al-Ibrahim outlined developments since his visit to Slovenia last year, such as a memorandum creating a joint business council and creating new opportunities for investment and economic collaboration. The Kingdom’s minister emphasized the two economies’ synergies and urged Slovenian companies to participate in Saudi Arabia’s revolutionary Vision 2030 projects. In order to open up more investment opportunities, he also underlined the importance of the private sector and demanded a long-term plan for economic collaboration.
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