RIYADH, 14 February — Saudi Arabia and Denmark are working to endorse an investment protection agreement, which will boost investment relations further. This will also provide a legal framework to ensure protection of capital invested in the two countries.
The two sides have already set up six major joint-venture projects at a total cost of SR305 million.
This was disclosed by Danish Ambassador Sven Erik Nordberg, while inaugurating a major Danish painting, art and design exhibition last night at the embassy premises.
This exhibition, which features a number of paintings of famous painters like Sanne Ronild, Geert Roger Larsen and Daniel Roger Larsen, will open for visitors from 10 a.m. to 3 p.m. today and from 1 p.m. to 5 p.m. tomorrow.
Nordberg also spoke about the plan of a Danish business delegation to visit Saudi Arabia later this year in a renewed move to boost commercial ties.
Asked about the outcome of the visit of senior Saudi and GCC officials to Denmark recently, he said the move was mainly intended to acquaint them with the food safety regulations and the stringent measures imposed by that country to ensure exports of safe food and meat products.
During their weeklong stay, the GCC officials visited the slaughtering facilities, high-tech laboratories and veterinary institutions of Denmark.
Nordberg, who is also accredited to five other Gulf states, said that such interaction will eventually help on lifting the ban on the Danish beef and food products.
Denmark has lost more than SR30 million so far following the Saudi ban on Danish beef.
Nordberg said other Danish exports to Saudi Arabia also dropped — from SR1 billion in 1998 to SR815 million last year.
