Saudi Arabia and Switzerland are seeking to increase economic cooperation and joint investments in the mining sector.
In this context, Swiss Ambassador to Riyadh Yasmine Chatila confirmed that more than 100 Swiss companies are operating in the Kingdom in various fields, including the industrial sector, which she said will contribute to the transfer of expertise and technologies.
In remarks to Asharq Al-Awsat, Chatila said: “In terms of economic cooperation between the two countries, there are a large number of Swiss companies in Saudi Arabia that have agents and direct investments in several sectors. Chief among them is the industrial sector.”
On Monday, Saudi Minister of Industry and Mineral Resources Bandar Al-Khorayef began an official visit to Switzerland to review the promising opportunities in the industrial and mining sectors, in addition to opening new channels of communication with investors between the two countries.
The Saudi minister called for strengthening bilateral cooperation in the industrial and mining sector, and increasing access to non-oil exports.
His comments came during a roundtable discussion on Thursday in Bern, in the presence of Helene Budliger Artieda, Swiss State Secretary for Economic Affairs, and the participation of more than 15 major Swiss companies.
Al-Khorayef also discussed enhancing the role of the industrial and mining sectors as options in diversifying the economic base, by opening the doors to investors from all over the world, pointing out that Swiss companies contribute to training Saudis and transferring knowledge and technology in the fields of tourism.
The volume of Saudi non-oil exports to Switzerland amounts to more than 3.42 billion riyals ($912 million) and include natural and cultured pearl products, precious metals and jewelry.
Saudi imports total around 17.67 billion riyals ($4.4 billion), mainly consisting of jewelry, medicines, heavy machinery and food products.
