Baku, December 19, 2022, SPA -- Federation of Saudi Chambers and the Small and Medium Business Development Agency in Azerbaijan signed here today an agreement to establish a joint Saudi-Azerbaijani business council, in efforts to enhance intra-trade between the Kingdom and Azerbaijan and increase the volume of trade and investment cooperation between the two countries. The signing of the agreement coincides with the 17th session of the Saudi-Azerbaijani Joint Committee held in, Baku, where the signing ceremony took place in the presence of the Minister of Investment, Eng. Khaled Al-Falih. This agreement reflects the keenness of the two countries and the business sectors to raise the volume of trade and investment exchanges, as the Joint Business Council will carry out many commercial and promotional activities in promoting and expanding Azerbaijani-Saudi trade and economic cooperation by focusing on the targeted sectors in the economic cooperation agenda in the two countries, and will also provide a platform for Saudis and Azerbaijani businessmen to introduce and promote their activities and establish business partnerships. The joint business council will be concerned with opening new qualitative areas for economic cooperation, facilitating continuous interaction between the Saudi and Azerbaijani business sectors, working to address challenges and obstacles, as well as exchanging information on available markets and investment opportunities, and enabling trade and investment partnerships. The Kingdom's Vision 2030 and the environment and investment incentives it provides constitute promising investment opportunities for Azerbaijani business owners in various economic sectors. The establishment of a Saudi-Azerbaijan Business Council provides a valuable opportunity for Azerbaijani companies to deal with the Saudi market, which is one of the fastest-growing markets in the world. --SPA 17:39 LOCAL TIME 14:39 GMT 0011 www.spa.gov.sa/w1828541