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Austria and Saudi Arabia sign agreement to boost economic cooperation

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The Kingdom’s Ministry of Economy and Planning has signed a cooperation agreement with its Austria counterpart, the Saudi Press Agency reported on Wednesday.

Martin Kocher © Mena Today 

The Kingdom’s Ministry of Economy and Planning has signed a cooperation agreement with its Austria counterpart, the Saudi Press Agency reported on Wednesday.

The pact was inked at the ninth session of the Saudi-Austrian Joint Committee in Vienna between the Kingdom’s Economy and Planning Minister Faisal bin Fadel Al-Ibrahim and Austria’s Labor and Economy Minister Martin Kocher.

The parties aim to encourage cooperation in trade, industry, research and development, tourism, and small and medium enterprises.

The countries will also organize conferences and seminars featuring experts in their fields.

The parties are committed to protecting mutual intellectual property rights, the SPA reported.

Saudi Arabia and Austria first signed economic, commercial, industrial and technology agreements in 2004.

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