In a significant move towards bolstering bilateral relations, Saudi Arabia and Georgia have formalized four agreements aimed at fostering collaboration in the realms of industry, energy, and culture. These agreements were sealed at the Georgian-Saudi Investment Forum held in Tbilisi.
The pacts inked at the forum are set to propel the development and investment in water and solar energy projects. Additionally, they aim to augment training and expertise in cultural fields.
The investment-focused gathering, graced by the presence of Saudi Investment Minister Khalid Al-Falih and Georgia’s Deputy Prime Minister Levan Davitashvili, along with key government and private sector figures from both nations, was reported by the Saudi Press Agency (SPA).
Key points of discussion during the conference included exploring funding avenues, fortifying Tbilisi-Riyadh relations, and intensifying work to advance economic and investment connections between both countries.
Emphasis was placed on fostering high-quality investments and empowering the private sector to leverage opportunities available within the two nations, SPA noted.
Minister Al-Falih highlighted Georgia’s strong economic base and competitive edge, which offer promising investment opportunities in various sectors including transport, logistics, agriculture, tourism, culture, and renewable energy.
He also mentioned that both countries share a strategic vision for the transport and logistics sector, aiming to create a link between Asia and Europe.
Al-Falih confirmed Saudi Arabia’s ambition to boost global economic ties and its goal to annually manage over 40,000 containers by 2030, a target set in the National Strategy for Transportation and Logistics.