During a high-level meeting in Switzerland, the Swiss Stock Exchange and the Saudi Financial Market signed a memorandum of understanding regarding future cooperation between them. This agreement between the Swiss main exchange "SIX" and its Saudi counterpart "Tadawul" was signed in Zurich during the third "Financial Dialogue" between the two countries on Monday, July 12. The delegations were headed by Swiss Finance Minister Ueli Maurer and his Saudi counterpart Mohammed Al-Jadaan.
The Swiss Finance Ministry stated that both sides discussed issues such as the digitization of sustainable financial services, access to each other's markets, and the management of sovereign debt. Additionally, discussions took place between Saudi officials and representatives from Swiss banks and insurance companies on Monday. The delegations also visited fintech companies in the Zurich area. This was the third "Financial Dialogue" between the two countries, following similar meetings in 2018 and 2019.
It is noteworthy that Saudi Arabia is one of Switzerland's most important trading partners in the Middle East, with trade volume between the two countries reaching approximately 2.3 billion Swiss francs (2.5 billion dollars), and more than 100 Swiss companies actively operating in the Gulf state. Meanwhile, non-governmental organizations and leftist parties in Switzerland continue to accuse the Saudi regime of human rights violations.
