Saudi Arabia and Portugal Sign Agreement to Boost Economic Cooperation

KSA, 20 January, 2025 : The Saudi-Portuguese Business Council, led by Chairman Alwaleed Al-Baltan, has successfully wrapped up a visit to Portugal, advancing economic cooperation between the two countries.

The delegation met with key Portuguese officials, including ministers of economy, agriculture, and sports, as well as the mayors of Porto and Leiria. A major achievement of the visit was the signing of a tripartite framework agreement between the Saudi-Portuguese Business Council, the Arab-Portuguese Chamber of Commerce, and the Portuguese Business Council. This agreement seeks to explore collaboration in sectors like aviation, tourism, sports investment, media, healthcare, agriculture, and fish farming.

More than 260 Portuguese companies expressed interest in entering the Saudi market. Workshops were held in Lisbon to introduce Portuguese companies to Saudi investment opportunities, with participation from Al-Hawaishel Law Firm and Bank AlJazira.

The delegation also visited prominent Portuguese firms, including Microsaur and Etermar, which plan to establish regional headquarters in Saudi Arabia.