Saudi Arabia holds talks to boost economic ties with Bahrain, Slovenia

Saudi Arabia’s Minister of Industry and Mineral Resources Bandar Al-Khorayef held a meeting on Wednesday with his Bahraini counterpart Abdullah Fakhro at the ministry’s headquarters in Riyadh, which focused on ways to improve economic ties.

The discussions focused on the objectives of Saudi Vision 2030 and Bahrain’s Economic Vision 2030, with an emphasis on strengthening industrial cooperation, fostering private-sector exchange of expertise and technology, and boosting trade, particularly non-oil exports, the Saudi Press Agency reported.

Last year, Saudi Arabia’s non-oil exports to Bahrain amounted to SR7 billion ($1.8 billion), while imports were SR9.8 billion.

The Saudi Industrial Development Fund contributed to financing 13 projects worth SR1.5 billion.

Meanwhile, Saudi Minister of Economy and Planning Faisal Alibrahim began an official visit to Slovenia, where he held meetings with senior government officials, including Minister of Economy, Tourism and Sport Matjaz Han, Minister of Finance Klemen Bostjancic, and Chamber of Commerce and Industry President Tibor Simonka.

On the sidelines of his visit, Alibrahim participated in the Slovenia-Saudi Business Roundtable Meeting that featured several presentations on investment opportunities in the Kingdom.

Speaking at the event, he said: “There is substantial untapped potential for collaboration between Saudi and Slovenian private sectors. This synergy can lead to innovative ventures, and investment opportunities that create mutually beneficial outcomes for businesses in both countries.”

Slovenia’s officials highlighted key investment opportunities in the central European country as well as its current successful business ventures in the Kingdom.

The roundtable meeting included the signing of a memorandum of understanding to establish the Saudi-Slovenian Business Council.

Alibrahim’s visit is part of the Kingdom’s efforts to build bridges and boost cooperation with the rest of the world, in line with Saudi Vision 2030.

It is expected that stronger multilateral cooperation and cross-border investments will result in a thriving private sector that supports the Kingdom’s socio-economic development.