Arab News, Wed, May 29, 2024 | Dhu al-Qadah 21, 1445
Saudi Arabia and Austria sign MoU for economic cooperation
Saudi Arabia:
Saudi Arabia’s economy ministry and its Austrian counterpart signed a memorandum
of understanding to boost economic cooperation between the two nations.
The Saudi Ministry of Economy and Planning Austria’s Ministry of Labor and
Economy in the deal on the sidelines of the Saudi-Austrian Joint Committee held
in the Austrian capital.
The MoU was signed by the Saudi Minister of Economy and Planning Faisal bin
Fadel Al-Ibrahim, and the Austrian Minister of Labor and Economy, Martin Kocher.
The MoU aims to diversify and strengthen economic ties, exchange experiences and
information, and encourage cooperation in a number of fields, including trade,
industry, research and development, tourism, small and medium enterprises.
Among the content of the MoU is the organization of conferences, seminars and
the exchange of visits between experts, in addition to cooperation between
government institutions and the private sector.
The parties are also committed to protecting intellectual property rights and
exchanging information for the purposes specified in the MoU.
This MoU comes within the framework of a cooperation agreement in the economic,
commercial, industrial and technical fields signed between the two governments
in 2004.