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Saudi-French Agreement to Boost Economnic Cooperation

Franck Riester, French minister delegate for foreign trade and economic attractiveness (L) and Khalid Al-Falih, Minister of Investment of Saudi Arabia (R).
Franck Riester, French minister delegate for foreign trade and economic attractiveness (L) and Khalid Al-Falih, Minister of Investment of Saudi Arabia (R).
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Saudi-French Agreement to Boost Economnic Cooperation

Franck Riester, French minister delegate for foreign trade and economic attractiveness (L) and Khalid Al-Falih, Minister of Investment of Saudi Arabia (R).
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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Saudi Arabia Makes History with Adoption of Riyadh Treaty on Design Law

Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)
Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)
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Saudi Arabia Makes History with Adoption of Riyadh Treaty on Design Law

Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)
Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)

Saudi Arabia has made history by uniting the 193 member states of the World Intellectual Property Organization (WIPO) to adopt the Riyadh Treaty on Design Law. This landmark achievement, realized after two decades of deliberation, underscores the Kingdom’s leadership in enhancing the global intellectual property system.

The announcement came at the conclusion of the Riyadh Diplomatic Conference on the Design Law Treaty, a rare event for WIPO, which has not held a diplomatic conference outside Geneva for more than a decade. It was also the first such event hosted in Saudi Arabia and the Middle East, representing the final stage of negotiations to establish an agreement aimed at simplifying and standardizing design protection procedures across member states.

Over the past two weeks, intensive discussions and negotiations among member states culminated in the adoption of the Riyadh Treaty, which commits signatory nations to a unified set of requirements for registering designs, ensuring consistent and streamlined procedures worldwide. The agreement is expected to have a significant positive impact on designers, enabling them to protect their creations more effectively and uniformly across international markets.

At a press conference held on Friday to mark the event’s conclusion, CEO of the Saudi Authority for Intellectual Property Abdulaziz Al-Suwailem highlighted the economic potential of the new protocol.

Responding to a question from Asharq Al-Awsat, Al-Suwailem noted the substantial contributions of young Saudi men and women in creative design. He explained that the agreement will enable their designs to be formally protected, allowing them to enter markets as valuable, tradable assets.

He also emphasized the symbolic importance of naming the convention the Riyadh Treaty, stating that it reflects Saudi Arabia’s growing influence as a bridge between cultures and a global center for innovative initiatives.

The treaty lays critical legal foundations to support designers and drive innovation worldwide, aligning with Saudi Arabia’s vision of promoting international collaboration in the creative industries and underscoring its leadership in building a sustainable future for innovators.

The agreement also advances global efforts to enhance creativity, protect intellectual property, and stimulate innovation on a broader scale.

This achievement further strengthens Saudi Arabia’s position as a global hub for groundbreaking initiatives, demonstrating its commitment to nurturing creativity, safeguarding designers’ rights, and driving the development of creative industries on an international scale.

The Riyadh Diplomatic Conference, held from November 11 to 22, was hosted by the Saudi Authority for Intellectual Property and attracted high-ranking officials and decision-makers from WIPO member states.