Arab News, Saturday, May 06, 2023 | Shawwal 15, 1444
Mining and minerals trade discussed by Saudi industry minister and Swiss officials
Saudi Arabia: Mineral exports and
mining developments were discussed when Saudi Minister of Industry and Mineral
Resources Bandar Alkhorayef met with two leading Swiss officials in Bern.
The minister held talks with Swiss State Secretary
for Economic Affairs Helene Budliger Artieda, and Chairwoman of the Board at
Swiss Export Risk Insurance, known as SERV, Barbara Hayoz, during his visit to
the European country.
According to the Saudi Press Agency, there were
discussions around enhancing cooperation in the industrial and mining sectors
and boosting non-oil exports between the two countries.
The officials also discussed exploiting the
promising investment opportunities provided by the Kingdom’s National Strategy
for Industry, and enhancing cooperation between the Saudi Export and Import Bank
and SERV.
“They also discussed solutions required to enhance
access to non-oil exports between the Kingdom and Switzerland, with minerals
representing a large percentage of these exports, besides the promising
pharmaceutical sector that enjoys strong export potential between the two
countries,” according to the SPA.
The minister’s visit to Switzerland comes as the
two countries seek stronger economic ties.
In January, the 13th meeting of the Saudi-Swiss
Joint Economic Committee and the Saudi-Swiss Executive Investment Forum was held
in Zurich.
It examined bilateral economic ties and discussed
issues related to the technology, tourism, energy, and health sectors.
Participants emphasized the significance of
broadening the scope of cooperation between Saudi Arabia and Switzerland by
capitalizing on opportunities in areas of mutual interest.
In 2021, the volume of the Kingdom’s non-oil
exports to Switzerland amounted to more than SR3.42 billion ($911.82 million),
while the volume of imports was recorded at SR7.99 billion.
Saudi Arabia’s key exports included precious
metals, jewelry, building materials, and re-exports of cars.
Imports to the Kingdom from Switzerland included
medicines, heavy machinery, electronics, and food products.