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.
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Swiss president wraps up controversial visit to the Gulf
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Ueli Maurer has concluded his visit to Saudi Arabia and the UAE, where the major topics of conversation were finance and sustainability.
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