On April 17, in Riyadh Minister of Foreign Affairs of Armenia Ararat Mirzoyan had a meeting with Saudi Arabia’s Minister of Economy and Planning Faisal bin Fadhill bin Muhsin Alibrahim.
The interlocutors thoroughly discussed a wide range of issues related to the development of economic relations between Armenia and Saudi Arabia. Ararat Mirzoyan emphasized that after the establishment of diplomatic relations between the two countries, it is time to build a comprehensive bilateral agenda, for which the development of trade and economic relations can become the best basis. Reciprocating this approach, the Saudi side offered to mutually agree on a “road map” reflecting the interests of both countries to achieve the most effective realization of the existing potential.
The Minister of Foreign Affairs of Armenia and the Minister of Economy of Saudi Arabia discussed the possibilities of tourism, trade in services, development of infrastructures, and investment promotion. The promotion of direct connections between business circles, the implementation of regular direct flights, and the formation of the necessary institutional framework were emphasized. An agreement was reached to develop the necessary legal base.
In the context of investment opportunities and sustainable economic development, Minister Mirzoyan presented to the interlocutor the details of the “Crossroads of Peace” initiative developed by the Government of Armenia. Informing that the project has received attention from a number of international partners, Ararat Mirzoyan suggested considering the opportunities provided by the development of communications to the Black Sea for the Gulf countries.
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Adding that a stable environment is necessary for the development of the economy, the Minister of Foreign Affairs presented the vision of the Republic of Armenia to achieve lasting stability and peace in the South Caucasus, including the process of normalization of relations with Azerbaijan.
Ministry of Foreign Affairs
