Saudi Arabia and Austria Sign Cooperation Agreement
Riyadh, The Gulf Observer: The Kingdom’s Ministry of Economy and Planning has signed a cooperation agreement with its Austrian counterpart, the Saudi Press Agency reported on Wednesday.
The agreement was formalized during the ninth session of the Saudi-Austrian Joint Committee held in Vienna. The signing ceremony featured Saudi Arabia’s Minister of Economy and Planning, Faisal bin Fadel Al-Ibrahim, and Austria’s Minister of Labor and Economy, Martin Kocher.
The agreement aims to bolster cooperation between the two nations in various sectors including trade, industry, research and development, tourism, and small and medium enterprises (SMEs). Both countries have committed to organizing conferences and seminars featuring experts from these fields to facilitate knowledge exchange and collaboration.
Furthermore, the agreement emphasizes the protection of mutual intellectual property rights, underscoring the commitment of both nations to fostering a secure and innovative economic environment.
Saudi Arabia and Austria have a history of economic collaboration, having first signed agreements in economic, commercial, industrial, and technological sectors in 2004. This new pact builds on that foundation, aiming to further strengthen and diversify bilateral economic ties.
