Saudi-Uzbek trade exchange hit SAR 48 mln in 2020: Al-Falih

Saudi Minister of Investment meets Uzbek counterpart

Saudi Arabia’s Minister of Investment Khalid Al-Falih, said the trade exchange between Saudi Arabia and Uzbekistan reached good levels in the last few years.

The Kingdom is seeking to enhance the existing partnerships and other economic and investment agreements between both countries.

Despite the COVID-19 pandemic, the trade exchange between Saudi Arabia and Uzbekistan reached SAR 48 million in 2020, compared to SAR 66 million in 2018, Al-Falih told Argaam.

The partnership with Uzbekistan is important for both countries.

Moreover, the coming period will witness many projects, initiatives and joint cooperation efforts to serve comprehensive development in the two countries, and support the private sector and investors, Al-Falih said, adding that this will help provide opportunities for the Saudi and Uzbek business sector.

Both countries will also focus on investments in the renewable energy sector, as well as other promising industries.

Saudi firms will undertake investments in Uzbek promising sectors, such as the financial, banking, telecommunications, information technology, petrochemicals, infrastructure, tourism, travel, Hajj and Umrah, hotels, agriculture, transport, logistic services, health, pharmaceuticals and food, Al-Falih added.