Riyadh, Saudi Arabia – Saudi Arabia and Croatia have agreed in principle to establish a joint business council under the aegis of the Saudi Chambers to promote economic cooperation and continuous interaction between the business sectors of the two countries.
This was decided during a meeting between Croatia’s former President Kolinda Grabar-Kitarović and her accompanying delegation on Sunday with Saudi business representatives. Grabar-Kitarovic expressed the desire of her country to expand trade and investment cooperation with Saudi Arabia, especially in the sectors of renewable energy, transport, infrastructure, tourism and real estate.
President of the Saudi Chambers Hasan bin Mujeb Al-Huwaizi, said that there are great investment opportunities for Croatian companies in the sectors targeted by the Saudi vision 2030, citing, in particular, the renewable energy, tourism and real estate sectors.
Al-Huwaizi revealed that the size of trade exchange between the two countries has grown at a rate of 198 percent to SR533 million ($146 million) in 2021. He called for introducing new cooperation mechanisms that incentivize investment opportunities between the two countries.