Bern, Switzerland— Seeking to expand its industrial base, Saudi Arabia is keen to widen cooperation with Switzerland in the industrial and mining sectors, besides increasing access to non-oil exports.
In this connection, the Saudi Minister of Industry and Mineral Resources, Bandar bin Ibrahim AlKhorayef, held a meeting with Switzerland’s State Secretary for Economic Affairs, Helene Budliger Artieda, in Bern to discuss cooperation between the two countries.
The meeting, which took place during the Saudi minister’s official visit to the Swiss Confederation, aimed to explore investment opportunities in line with Saudi Vision 2030 and the National Strategy for Industry, which aims to expand the industrial base in the Kingdom.
The participants in the meeting discussed common issues between Saudi Arabia and Switzerland in the fields of industry and mining and ways to enhance these fields to contribute to diversifying the economic base.
They also discussed exploiting the promising investment opportunities provided by the Saudi National Strategy for Industry to investors in the industrial sector.
The meeting emphasized the importance of enhancing communication between the two sides and developing export opportunities.
The Saudi Minister of Industry and Mineral Resources also met with Barbara Hayoz, Chairwoman of the Board of Directors at Swiss Export Risk Insurance (SERV), to discuss enhancing cooperation with the Saudi EXIM Bank and solutions to enhance access to non-oil exports between the Kingdom and Switzerland.
The meeting also reviewed the possibility of exchanging expertise and knowledge to encourage mutual exports, with minerals representing a large percentage of these exports, along with the promising pharmaceutical sector that enjoys strong export potential between the two countries.
The Kingdom of Saudi Arabia and the Swiss Confederation have strong trade relations in several economic activities, including the manufacturing of precious metals, jewelry, construction materials, petrochemicals, medicines, and consumer products.
The meeting between the Saudi Minister of Industry and Mineral Resources and the Swiss State Secretary for Economic Affairs emphasized the potential for expanding these trade relations and promoting investment in the industrial and mining sectors to support the goals of Saudi Vision 2030.