Third Financial Dialogue between Switzerland and Saudi Arabia

Meeting in Zurich on sustainability, digital, public debt and markets between Federal Councillor Ueli Maurer and Minister Mohammed Al-Jadaan

On July 12, 2021, the third financial dialogue between Switzerland and Saudi Arabia was held in Zurich. Federal Councillor Ueli Maurer and Saudi Finance Minister Mohammed Al-Jadaan opened the meeting.
The main topics of the meeting were the great potential of digitization for sustainable financial services, better conditions for mutual market access and public debt management.
The delegations also recalled the importance of the double taxation agreement concluded by the two countries and entered into force on April 1, 2021.

“More science in diplomacy, more diplomacy in science”

Agreement also between SIX and Tadawul in the area of stock exchanges

Finally, the Swiss financial market infrastructure operator SIX and the Saudi Arabian stock exchange Tadawul have signed a memorandum of understanding on cooperation in the area of stock exchange trading.
On the fringes of the financial dialogue, delegations from both countries met with senior executives from the banking and insurance sectors and visited companies in the Zurich region that are active in the field of technology finance.
The first and second financial dialogues between Switzerland and Saudi Arabia took place in 2018 and 2019, respectively.

Switzerland’s bilateral meetings with the USA and Russia

Trade volume CHF 2.3 billion per year

Saudi Arabia is one of Switzerland’s most important trading partners in the Middle East.
This is evidenced by an annual trade volume of about CHF 2.3 billion and the presence of more than 100 Swiss companies operating there.

Switzerland gives “guarantees, trust, autonomy and neutrality”