RIYADH, 4 March 2002 — Saudi Arabia and the Czech Republic signed a landmark cooperation agreement here yesterday. The agreement seeks to provide a framework for cooperation in the fields of science, education and research besides boosting political and economic ties. Dr. Nizar Obaid Madani, assistant minister of foreign affairs, and Vaclav Petricek, the Czech deputy minister of industry and trade, signed the agreement.
The Czech Republic is the first country from the former Eastern Bloc to endorse such an accord with the Kingdom.
Petricek also met with some senior Saudi officials including Commerce Minister Osama Faqeeh and discussed a whole range of bilateral, regional and commercial issues.
Spelling out the salient features of the agreement, the Czech minister said “the accord opens the door to signing other bilateral pacts such as an investment protection treaty, agreement on the avoidance of double taxation and agreements in the fields of science, research, technology, education and culture.”
The agreement also calls for the formation of a joint panel to follow up the implementation of its provisions.
Petricek said the agreement would pave way for closer cooperation in the fields of commerce, industry, health and science.
The General Presidency of Youth Welfare has been working with the Czech government agencies for quite sometime now to boost cultural relations.
Czech Ambassador Zdenek Polacek, said the accord “once again highlights lively exchanges and deepening of relations between our two friendly countries.” He said the six-member delegation led by Petricek held discussions with Saudi businessmen to explore the possibilities of setting up joint ventures in the two countries.
