Bratislava, November 22, 2024 – In a significant step towards strengthening bilateral ties, Slovak President Peter Pellegrini met on Thursday with Hassan bin Moejeb Al-Huwaizi, President of the Federation of Saudi Chambers, alongside a delegation of Saudi investors and representatives from various governmental entities. The meeting, held in Bratislava, focused on exploring potential investment opportunities between Saudi Arabia and Slovakia, as both countries seek to expand their economic cooperation.
President Pellegrini expressed Slovakia’s eagerness to foster a deeper relationship with Saudi Arabia, emphasizing the country's commitment to providing the necessary support and facilities for Saudi investors. He acknowledged Saudi Arabia's impressive economic advancements, particularly in its efforts to diversify its economy and develop emerging non-oil sectors. Slovakia’s leadership reiterated its interest in strengthening trade and investment links, recognizing the Kingdom’s pivotal role in regional and global economic landscapes.
A major highlight of the meeting was the official launch of the Saudi-Slovak Joint Business Council, which aims to serve as a platform for increased collaboration between the two nations. This council is expected to play a key role in enhancing business relations and creating a structured approach to fostering mutual economic growth. During the discussions, Al-Huwaizi outlined the ongoing economic reforms in Saudi Arabia, particularly the Kingdom's focus on empowering the private sector and creating a business-friendly environment that attracts both local and international investments. He also emphasized the importance of diversifying the economy in line with Saudi Vision 2030.
Abdulrahman bin Saleh Al-Otaishan, Chairman of the Saudi-Slovak Business Council, highlighted the council’s commitment to leveraging the comparative advantages of both countries. By focusing on specific economic sectors, the council plans to devise strategies that will boost trade and enhance investment flows between Saudi Arabia and Slovakia.
At present, trade between the two nations stands at approximately SAR 1.8 billion, with Slovak imports forming the majority of the exchange. However, both sides expressed their intention to significantly expand these figures through collaborative projects and targeted investments in key sectors such as technology, manufacturing, and renewable energy.
This meeting marks an important development in the ongoing efforts to strengthen Saudi-Slovak economic ties, opening doors to a wide range of opportunities for both nations. The establishment of the Saudi-Slovak Joint Business Council is a promising step forward in creating a more integrated and dynamic economic relationship, ensuring that both Saudi Arabia and Slovakia can capitalize on their respective strengths to foster mutual prosperity.
