RIYADH: Custodian of the Two Holy Mosques King Abdullah will hold talks with Swiss President Hans-Rudolf Merz here today.
“The wide-ranging talks between King Abdullah and Merz will focus on bilateral relations, the global financial crisis and cultural issues including inter-faith dialogue,” said Swiss Ambassador Maurice Darier.
Merz, who arrived in Riyadh last night, will also meet with Prince Naif, second deputy premier and minister of interior, Finance Minister Ibrahim Al-Assaf and Shoura Council Chairman Abdullah Al-Sheikh during his two-day trip.
“The visit is a very positive development, contributing to the strengthening of ties that have shown a healthy growth lately evidenced by the exchange of visits, high-ranking consultations and the steady increase in the value of Swiss investments,” he said.
President Merz is also likely to meet high-ranking Saudi and Swiss representatives from the business communities.
On the commercial front, Saudi Arabia and Switzerland have forged closer ties. The Kingdom is one of the most important destinations for Swiss exports in the Middle East with total Swiss exports exceeding $1 billion last year. The two countries have also set up more than 13 joint venture projects with a cumulative capital of over $1.6 billion.
An agreement signed between the Swiss Confederation and the Kingdom on the encouragement and reciprocal protection of investments has already come into force.
More than 30,000 Saudi nationals visit Switzerland annually for business and tourism.
