On April 17, RA Foreign Minister Ararat Mirzoyan met with Saudi Arabia’s Minister of Economy and Planning Faisal bin Fadl bin Muhsin Al-Ibrahim in Riyadh.
The interlocutors thoroughly discussed various issues related to developing economic relations between Armenia and Saudi Arabia. Ararat Mirzoyan emphasized that after establishing diplomatic relations between the two countries, it is time to build a comprehensive bilateral agenda for trade and economic ties to 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 Ministers of Foreign Affairs of Armenia and the Ministers of Economy of Saudi Arabia discussed the possibilities of tourism, trade in services, the development of infrastructure, and investment promotion. They emphasized the promotion of direct connections between business circles, the implementation of regular direct flights, and the formation of the necessary institutional framework. An agreement was reached to develop the necessary legal contract base.
Minister Mirzoyan presented the details of the “Crossroads of Peace” project developed by the RA government to the interlocutor in the context of investment opportunities and sustainable economic development. Informing that the project has received attention from several international partners, Ararat Mirzoyan suggested considering the opportunities provided by developing communications to the Black Sea for the Gulf countries.
Adding that a stable environment is necessary for the development of the economy, the head of the RA foreign political department presented the Republic of Armenia’s vision to achieve lasting stability and peace in the South Caucasus, including the process of normalizing relations with Azerbaijan.
