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Saudi-French Agreement to Boost Economnic Cooperation

Saudi-French Agreement to Boost Economnic Cooperation

Friday, 9 April, 2021 - 08:45
Franck Riester, French minister delegate for foreign trade and economic attractiveness (L) and Khalid Al-Falih, Minister of Investment of Saudi Arabia (R).

A French delegation of government officials, diplomats, and investors concluded their visit to Saudi Arabia by signing an agreement to boost bilateral investment relations and support long-term partnerships in emerging sectors.

The delegation included French Minister Delegate for Foreign Trade and Economic Attractiveness Franck Riester and French Ambassador to Saudi Arabia Ludovic Pouille.

The framework cooperation deal was signed between the Ministry of Investment of Saudi Arabia (MISA) and MEDEF International, which is a French non-profit responsible for promoting the French private sector internationally.

Commenting on the agreement, Laurent Germain, chairman of the Saudi-French Business Council of MEDEF International, said: “I am delighted to have signed the framework cooperation agreement between MEDEF International and the Saudi Ministry of Investment, which will serve as an important step in deepening Saudi-French economic ties."

"Over the past couple of days, we held insightful and productive meetings with Saudi ministers, government officials, CEOs, and investors, and we thank our Saudi partners for hosting us.”

Speaking on the occasion, the French minister said: “French companies are ready and willing to be major partners in the Kingdom’s giga-projects. Thanks to their world-renowned know-how and unmatched expertise, they are ideally suited to meet the high expectations of the Kingdom.”

The meetings were held in Riyadh and were attended by several Saudi government entities, including officials from the Ministry of Tourism, Ministry of Transport, Ministry of Commerce, and the Public Investment Fund (PIF).

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