Council of Saudi Chambers holds KSA-Bulgarian business forum

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Saad stressed that Saudi Arabia needed effective means to enable Bulgarian and Saudi companies to open new channels of investment. (SPA)
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Saad stressed that Saudi Arabia needed effective means to enable Bulgarian and Saudi companies to open new channels of investment. (SPA)
Updated 23 March 2019
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Council of Saudi Chambers holds KSA-Bulgarian business forum

  • The Bulgarian Minister of Economy praised the bilateral agreements between Saudi Arabia and Bulgaria and highlighted the three important documents signed in 2016 and 2017
  • “We are currently working on an agreement to promote and protect the investments,” Karanikolov said

RIYADH: The Saudi-Bulgarian Businessmen Forum at the headquarters of the Council of Saudi Chambers in Riyadh on Friday discussed the development of trade and the signing of investment agreements between the two countries.
Vice Chairman of the Council of Saudi Chambers Munir bin Saad met Bulgarian Minister of Economy Emil Karanikolov, Bulgaria’s first ambassador to Saudi Arabia, Dimitar Abadjiev, and a Bulgarian business delegation.
Saad stressed that Saudi Arabia needed effective means to enable Bulgarian and Saudi companies to open new channels of investment in health care, tourism and leisure, renewable energy and information technology.
He said that he hoped that the meeting would be the beginning of a dialogue that would contribute to increasing trade between the two countries, which had reached $269 million by 2017. He looked forward to the support provided toward the cooperation between both sides to build fruitful partnerships, adding value to both countries.
Munir bin Saad called on Bulgarian companies to invest in the Kingdom and exploit the promising investment opportunities. He stressed Saudi business’s readiness to benefit from the resources and components of Bulgaria and to open new horizons of cooperation.
The Bulgarian Minister of Economy praised the bilateral agreements between Saudi Arabia and Bulgaria and highlighted the three important documents signed in 2016 and 2017 — the memorandum of understanding on Cooperation in Tourism, the Double Taxation Agreement and the Agreement on Mutual Cooperation in Agriculture and Livestock.
“We are currently working on an agreement to promote and protect the investments,” Karanikolov said. “We also expect the establishment of a joint committee between the Bulgarian government and Saudi Arabia for economic cooperation,” he said, adding that the Bulgarian government was prioritizing its trade and industrial relations with Saudi Arabia and would support all initiatives that serve cooperation between the two countries.


Pompeo meets with Crown Prince Mohammed bin Salman for talks on Aramco attacks

Updated 15 min 38 sec ago

Pompeo meets with Crown Prince Mohammed bin Salman for talks on Aramco attacks

  • Pompeo described the drone and cruise missile strikes on Saturday as an 'Iranian attack'
  • Pompeo was met at Jeddah airport by Saudi Foreign Minister Ibrahim Al-Assaf. 

JEDDAH: US Secretary of State Mike Pompeo Wednesday described strikes on key Saudi oil installations as an “act of war” as he landed in Jeddah to meet with Saudi Arabia's Crown Prince Mohammed bin Salman.

Pompeo described the drone and cruise missile strikes on Saturday as an “Iranian attack”.

He said it had not come from Yemen’s Iran-backed Houthi militants and that there was no evidence the attacks had been launched from Iraq.

"This is an attack of a scale we've just not seen before," he added.

Pompeo was met at Jeddah airport by Saudi Foreign Minister Ibrahim Al-Assaf.

Pompeo's visit comes as President Donald Trump said on Wednesday there were many options short of war with Iran after Saudi Arabia's display of remnants of drones and missiles it said were used in the I that was "unquestionably sponsored" by Tehran.

"There are many options. There's the ultimate option and there are options that are a lot less than that. And we'll see," Trump told reporters in Los Angeles. "I'm saying the ultimate option meaning go in — war."

Trump, who earlier said on Twitter that he had ordered the US Treasury to "substantially increase" sanctions on Iran, told reporters the unspecified, punitive economic measures would be unveiled within 48 hours.

Trump's tweet followed repeated US assertions that the Islamic Republic was behind Saturday's attack on Aramco facilities and came hours after Saudi Arabia said the strike was a "test of global will."

Earlier on Wednesday, UK Prime Minister Boris Johnson said he had spoken with US President Donald Trump about the Aramco attack, and agreed that Iran must not be allowed to acquire a nuclear weapon.

Also on Wednesday, Kuwait's army released a statement announcing it was raising its preparedness level for some units, given the tensions in the Middle East region.