President of the Federation of Saudi Chambers Hassan al-hawizi met with deputy prime minister and Minister of foreign trade and investment of the Republic of Cuba Ricardo Cabrisas in Riyadh, as part of his visit to the Kingdom at the head of a delegation including a number of government officials.
The president of the Federation of Saudi Chambers explained that the private sector is looking forward to raising the volume of trade exchange between the Kingdom and Cuba in the light of opportunities and opportunities, expressing their optimism about a promising future for trade and investment between the two countries in light of government attention and support, adding that the initiatives and projects of Saudi Vision 2030 open promising prospects for investment and trade partnership, drawing attention to the importance of creating success stories for Saudi investors in Cuba to be an incentive for others.
For his part, the Cuban Minister of Foreign Trade stressed that there is a common conviction and will to upgrade economic relations between the Kingdom and Cuba, indicating the importance of the role of the Saudi and Cuban business sector in advancing the course of Economic Cooperation. He noted that the Cuban investment law provides great incentives and protection for foreign investors, and revealed discussions with Saudi officials on banking cooperation and agreements that support investment between the two countries.
It is worth mentioning that the volume of trade exchange between the Kingdom and Cuba reached about 97 million riyals in 2022, achieving a growth of 190% compared to 2021.
