In an effort to strengthen economic cooperation The Kingdom of Saudi Arabia and the Republic of Latvia sign an agreement on economic cooperation

The Kingdom of Saudi Arabia and the Republic of Latvia signed an agreement on economic cooperation.

The signed agreement focuses on strengthening economic ties between the Kingdom and Latvia, encouraging cooperation between institutions and establishments, including SMEs, and chambers of commerce. The agreement also includes collaboration in several sectors, such as trade, investment, financial sector, transport and logistics, tourism, agriculture and the food industry.

The agreement was signed by His Excellency Faisal F. Alibrahim, Minister of Economy and Planning, on behalf of the Kingdom, and Her Excellency Ilze Indriksone, Latvia's Minister of Economy, representing her country, during the latter's visit to the Kingdom, alongside an official delegation.

The signed agreement will help facilitate broader and deeper economic ties between the Kingdom of Saudi Arabia and the Republic of Latvia through the establishment of a Joint Committee. In addition to the Joint Committee meetings that will include representatives from various government sectors as well as the private sector, the agreement also encourages planning of visits and events aimed at enhancing cooperation between both countries.​