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.