Switzerland and Saudi Arabia consider stock exchange cooperation

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Finance Minister Maurer (left) and his Saudi Arabian counterpart Al-Jadaan (center) at a meeting in Riad three years ago. Trapeze / Efd / Dff

The Swiss and Saudi stock exchanges signed a memorandum of understanding on future cooperation at a high-level meeting in Switzerland.

This content was published on July 13, 2021 – 11:20

swissinfo.ch/urs

The SIX and Tadawul stock exchanges signed the agreement during the third “financial dialogue” between the two countries in Zurich on Monday.

The delegations were led by Swiss Finance Minister Ueli Maurer and his Saudi counterpart, Mohammed Al-Jardaan.

The two sides discussed issues such as digitizing sustainable financial services, accessing each other’s markets and managing sovereign debt, the finance ministry said in a statement.External link.

Talks also took place between Saudi officials and representatives of Swiss banks and insurance companies. The delegations also visited fintech companies in the Zurich region on Monday.

This was the third “financial dialogue” between the two countries; previous meetings took place in 2018 and 2019.

Saudi Arabia is one of Switzerland’s main trading partners in the Middle East, with a trade volume of around 2.3 billion francs ($ 2.5 billion). More than 100 Swiss companies operate in the Gulf State.

Swiss NGOs and left-wing parties continue to accuse the Saudi regime of human rights violations.


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