Switzerland and Saudi Arabia to sign investment protection agreement
An investment protection agreement will reportedly be signed between Saudi Arabia and Switzerland next month. Following a visit by a 20-member Swiss business delegation to Saudi Arabia and the Gulf, the two countries will cooperate with one another in the fields of economy and tourism following.
Swiss Minister of Economy Joseph Deiss, according to Arab News, is also expected to visit the Kingdom next month to further bilateral cooperation.
“The ministerial visit will also see the signing of another memorandum of understanding (MoU), formally setting up a Saudi-Swiss Business Council,” Swiss officials stated.
The Swiss delegation, led by director of Switzerland Tourism Federico Sommaruga, is also set to visit Jeddah and Dammam and later to Kuwait and the UAE on the two-week tour.
A month-long training program for Saudi students will also be established to instruct them on international tourism, hospitality, communication and IT in the tourism sector.
“A minimum of 15 Saudi students will go to Switzerland in the first group as part of this study tour program,” said one spokesman.