CSC Secretary General and Latvia Foreign Affairs Minister Discuss Economic Relations

Secretary General of the Council of Saudi Chambers (CSC) Dr. Saud Al Meshari received in his office the Latvian Minister of Foreign Affairs Andrejs Pildegovičs where the two discussed fostering economic relations between the two countries.

The Latvian Minister conveyed his country’s keenness on attracting Saudi investments, highlighting the incentives and various promising opportunities Latvia offers to foreign investors. He touched on Latvia’s status as an EU member, Schengen state, and a member of other international organizations. Mr. Pildegovičs shed light on the investment environment and vital sectors in Latvia, including telecommunications, IT, tourism, healthcare, foodstuffs, transportation, education, forestry, and woods. He encouraged Saudi investors to take advantage of these opportunities and expressed hope for the upcoming period to see more cooperation and signed agreements between the two countries to enhance these relations.

For his part, Dr. Al Meshari introduced the Latvian Minister to the capabilities of Saudi economy and its endeavors following the launching of the Saudi Vision 2030 and National Transportation Program 2020, which, he added, hold great opportunities for Latvian investors. He touched on the robust Saudi business community and its effective partnerships with various counterparts worldwide, as well as Saudi investments in international markets, and the openness of the Saudi market to various types of investments. Al Meshari reviewed the structural organization of the Saudi business community, represented in CSC and 28 Chambers of Commerce and Industry across the Kingdom. The Secretary General expressed CSC’s readiness to assist in any capacity in this regard to further foster economic relations between the two countries.

The two sides agreed on the importance of increasing trade delegations and signing an MoU between CSC and its counterparts in Latvia to foster trade partnerships between their respective business communities.