Beth: The Minister of Foreign Affairs of the Czech Republic, Jacob Kolhanek, affirmed his country’s desire to strengthen its economic relations with the Kingdom, noting Vision 2030 and efforts to diversify the Saudi economy and develop various economic sectors and the opportunities it presents for international investors, noting that the Czech Republic is an international investment and tourism destination as it enjoys many ingredients. The economic and investment opportunities that attract Saudi investors, and that Czech companies have advanced technologies that can contribute to the development of various projects in the Kingdom such as renewable energy, public transport, gas, oil, health care, industry, mining and others.

This came during his meeting today, Tuesday, with the accompanying delegation of Czech companies, with the Vice President of the Federation of Saudi Chambers of Commerce, Eng. Tariq Al-Haidari, and a number of Saudi business owners to discuss prospects and areas of trade and investment cooperation between the two countries.

The Czech Foreign Minister added that the delegation accompanying him includes the best and largest Czech companies looking to build commercial and investment partnerships with their counterparts from the Saudi private sector companies and to take advantage of the promising investment opportunities in the Kingdom, calling on Saudi business owners to visit the Czech Republic and explore the opportunities available there.

For his part, the Vice-President of the Federation of Saudi Chambers of Commerce, Engineer Tariq Al-Haidari, considered the meeting a valuable opportunity to discuss ways to enhance cooperation between the two friendly countries and explore investment opportunities in the Saudi and Czech markets, especially since the volume of trade exchange, which amounts to about 2.5 billion riyals in 2019, is modest compared to the available opportunities and economic capabilities of the The two states. 

Al-Haidari reviewed before the Czech delegation the positive transformations witnessed by the Saudi economy in light of Vision 2030, and the Kingdom's efforts to improve the business environment, facilitate trade and investment procedures, provide incentives to foreign investors, and create new channels of communication with its partners around the world, stressing that the Saudi private sector Today, it plays an important role in the national economic development process. As a result, the Kingdom has advanced in many international indicators, including the Global Competitiveness Index.

During the meeting, the Czech Federation of Industry (a gathering of Czech business owners that includes about 11,000 organizations) gave a presentation on the economic components of the Czech state, its strategic location in central Europe, its membership in the European Union, the presence of skilled labor, the strength of the financial sector and high manufacturing capabilities, as well as leading sectors and industries such as automobiles. Electrical engineering, electronics, mechanical machinery, chemicals, information and communication technology, renewable energy, green technologies, medical devices and equipment, biotechnology and nanotechnology.

It is worth noting that the Czech Republic ranks 54th in terms of the volume of trade exchange of the Kingdom with the countries of the world, while the volume of Saudi exports to the Czechs amounted to about 56 million riyals in 2019 AD, and the value of Saudi imports from the Czechs amounted to about 2.5 billion riyals, and the Czechs ranked 37th Among the countries from which the Kingdom imports.