Navigation

Switzerland and Saudi Arabia plan stock exchange cooperation

Finance Minister Maurer (left) and his Saudi counterpart Al-Jadaan (centre) during a meeting in Riad three years ago. Keystone/Efd / Dff

The Swiss and Saudi stock exchanges have 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 at 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 Arabian counterpart, Mohammed Al-Jadaan.

The two sides discussed issues such as the digitalisation of sustainable financial services, access to each other’s markets and sovereign debt management, the finance ministry said in a statementExternal 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; the previous meetings were held in 2018 and 2019.

Saudi Arabia is one of Switzerland’s most important trading partners in the Middle East, with trade volume of around CHF2.3 billion ($2.5 billion). Over 100 Swiss firms operate in the Gulf state.

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

In compliance with the JTI standards

In compliance with the JTI standards

More: SWI swissinfo.ch certified by the Journalism Trust Initiative

Contributions under this article have been turned off. You can find an overview of ongoing debates with our journalists here. Please join us!

If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.

Share this story

Change your password

Do you really want to delete your profile?