On August 25, 2022, the Ambassador of the Kyrgyz Republic to the Kingdom of Saudi Arabia Ulukbek Maripov met with the Deputy Minister of Investments of the Kingdom of Saudi Arabia Mohammad Al-Hassnah, with whom he discussed the current state and prospects for the development of trade, economic and investment cooperation.

The parties noted with satisfaction the great trade and economic potential existing between the countries, which has not yet been fully realized. In this regard, they agreed on the need to organize mutual visits, develop bilateral tourism and business contacts, hold various events with the participation of representatives of the private sector of the Kyrgyz Republic and the Kingdom, as well as open direct regular flights between the two countries.

In particular, Ambassador U. Maripov stressed the need to prepare and hold at a high level the next Kyrgyz-Saudi business forum, scheduled to be held in Kyrgyzstan until the end of 2022, with the participation of Kyrgyz and Saudi businessmen. The Ambassador also proposed to create a Business Council between the two countries and hold its first meeting as part of the upcoming business forum.

In addition, in order to create a favorable business environment and protect the interests of Arab investors, Ambassador U.Maripov proposed to prepare for signing the draft Agreement on the promotion and protection of investments between the Cabinet of Ministers of the Kyrgyz Republic and the Government of the Kingdom of Saudi Arabia, which is currently under consideration of the parties, during the closest contacts at the highest level.

In turn, the Deputy Minister of Investments of Saudi Arabia Mohammed Al-Hassnah highly appreciating the development of Kyrgyz-Saudi relations, called for further intensification of relations and strengthening trade and economic ties between the Kyrgyz Republic and the Kingdom. He expressed his readiness to provide comprehensive assistance to the Embassy in the preparation and holding of upcoming events aimed at strengthening ties between entrepreneurs and businessmen of the two countries.

Following the meeting, the parties agreed to continue close work to improve the bilateral legal framework in the field of investment, as well as maintain direct contacts on a regular basis.