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Saudi Arabia: 3 Summits to Promote Partnerships With Switzerland, Brazil, India

Saudi Arabia: 3 Summits to Promote Partnerships With Switzerland, Brazil, India

Monday, 28 October, 2019 - 13:30
A Saudi man walks past the sign of the Future Investment Initiative during the last day of the investment conference in Riyadh, Saudi Arabia October 25, 2018. REUTERS/Faisal Al Nasser

The Saudi capital will witness three bilateral summits this week to promote partnerships with each of Switzerland, Brazil, and India.

Swiss President Ueli Maurer visited Riyadh to participate in a Saudi-Swiss summit on Monday aimed at strengthening cooperation between the two countries and holding dialogue that promote the merging of positions on bilateral and international issues.

Discussions will also touch on financial issues, as Switzerland has been a regular guest in the meetings of the Finance Track of the Group of 20, which Saudi Arabia will host next year.

Saudi Arabia is an important market for Swiss financial services providers outside Europe.

Swiss financial institutions have a strong presence in Saudi markets. The Kingdom is one of Switzerland’s most important trading partners in the Middle East. In 2017, Swiss exports to Saudi Arabia amounted to CHF 8.1 billion, and imports from Saudi Arabia amounted to CHF 558 million.

Riyadh will also host a Saudi-Indian summit on Tuesday. Prime Minister Narendra Modi will visit the Kingdom to strengthen ties of friendship and promote strategic partnership.

Another high-level meeting will take place in Riyadh on Tuesday. A Saudi-Brazilian summit will define the new features of strategic relations linking the Kingdom with Latin America.

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