Establishing a Joint Business Council: A Saudi-Croatian Agreement

The Kingdom and Croatia have agreed in principle to establish a joint Saudi-Croatian business council under the aegis of the Federation of Saudi Houses. Open up new areas of economic cooperation and facilitate continued interaction between the business sectors of the two countries. This happened today during a meeting between the former President of the Republic of Croatia Kolinda Grabar and his accompanying delegation with Saudi entrepreneurs at the headquarters of the Federation of Saudi Chambers in Riyadh.

The former Croatian president has expressed his country’s desire to sign an economic cooperation agreement with the Kingdom. Broaden the areas of trade and investment cooperation, noting the prospects of partnership between the two countries and the available opportunities in the fields of renewable energy, transport, infrastructure, tourism and real estate, and invited Saudi and Croatian companies to greater cooperation in a way that contributes to raising the level of economic relations between the two countries.

For his part, the head of the Federation of Saudi Houses, Hassan bin Mujib Al-Huwaizi, said that Croatian companies have great investment opportunities in the Kingdom in the sectors targeted by Vision 2030, in particular renewable energy, tourism and real estate, indicating that the volume of trade between the two countries grew by 198% to reach 533 million riyals in 2021. He called for finding new cooperation mechanisms that help stimulate opportunities for investment between the two countries.