During the Uzbek team's trip to the Kingdom of Saudi Arabia, a high-level representative from the Republic of Uzbekistan and a host of delegates from various industries from the two countries met for the fourth session of the Saudi-Uzbek Joint Committee.

The meeting was co-chaired by Eng. Khalid Bin Abdulaziz Al-Falih, Minister of Investment, and Umurzakov Sardor, Deputy Prime Minister and Minister of Investments and Foreign Trade of the Republic of Uzbekistan. Jamshid Khodjaev, Minister of Agriculture of the Republic of Uzbekistan, was also present.

At the conference, they signed the minutes of the joint committee meeting, which established a road map to improve bilateral collaboration in all sectors of the economy in the aftermath of the coronavirus pandemic.

They also explored ways to improve investment prospects and motivate Saudi investors in segments such as air transportation, electricity, wellness, tourism, pharmaceuticals, agriculture, and others.

They spoke about the idea of forming a mutual investment fund with the Public Investment Fund to finance joint investments. They further decided to expand their collaboration in recruiting Uzbek human capital.

A series of memorandums of understanding have also been signed among the two countries to expand investments in energy and agriculture, to develop a new process of economic cooperation between the Kingdom of Saudi Arabia and Uzbekistan.

Mostly on the sidelines of the tour, the Uzbek delegation met with several senior businessmen and members of the private sector in Saudi Arabia, co-chaired by the minister of investment and the deputy prime minister and minister of investments and foreign exchange of the Republic of Uzbekistan, intending to foster and expand business here between two countries.

Engineer Al-Falih said "We welcome the delegation of the Republic of Uzbekistan led by the deputy prime minister and minister of investments and foreign exchange of the Republic of Uzbekistan and his corresponding representatives.

“Today, we demonstrate how our two countries' investment and economic relationship has grown stronger, notably in sustainable energy and agriculture.”