RIYADH — Saudi Arabia and Croatia have agreed in principle to establish a joint business council under the umbrella of the Saudi Chambers, aiming to usher into new potentials of economic cooperation and facilitating continuous interaction between the business sectors of the two countries.

This came during a meeting between Croatia's former President Kolinda Grabar-Kitarović and her accompanying delegation here Sunday with Saudi business representatives.

For her part, Grabar-Kitarovic expressed the desire of her country to sign an economic cooperation agreement with the Kingdom to expand the fields of trade and investment cooperation, lauding the potentials of partnership between the two countries as well as the opportunities available in the sectors of renewable energy, transport, infrastructure, tourism and real estate.

She called on Saudi and Croatian companies to show greater cooperation in a way that contributes to upgrading the level of economic relations between the two countries.

For his part, Hasan Bin Mujeb Al-Huwaizi, president of the Saudi Chambers, said that there are great investment opportunities before the Croatian companies in the sectors targeted by the Saudi Vision 2030.

He cited, in particular, the renewable energy, tourism and real estate sectors as examples, noting that the size of trade exchange between the two countries have grown at a rate of 198% to SR533 million in 2021, and calling for introducing new cooperation mechanisms that contribute to incentive the investment opportunities between the two countries. — SPA