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SAUDI-SOUTH KOREAN COMMITTEE CONCLUDES MEETING
RIYADH, 25th March 2001

    THE JOINT SAUDI-SOUTH KOREAN COMMITTEE FOR ECONOMIC, COMMERCIAL, INVESTMENT , CULTURAL AND TECHNICAL COOPERATION CONCLUDED HERE ON SUNDAY ITS 11TH SESSION.

  THE MINISTER OF COMMERCE, OSAMA BIN JAAFAR FAQIH AND HIS SOUTH KOREAN COUNTERPART HUANG DO YON CO-CHAIRED THE COMMITTEE'S SESSION.

  THE TWO SIDES SIGNED THE FINAL MINUTES OF THE SESSION, WHICH ARE COMPRISED OF A NUMBER OF RECOMMENDATIONS.

  THE RECOMMENDATIONS URGE INVESTORS TO BENEFIT FROM THE EXISTING PRIVILEGES AND THE AVAILABLE INCENTIVES TO SET UP INDUSTRIES, EXCHANGE VISITS BETWEEN COMMERCIAL DELEGATIONS AND ORGANIZE TRADE EXHIBITIONS.

  THE RECOMMENDATIONS STRESSED ALSO THE DESIRE OF THE TWO COUNTRIES TO INCREASE THE NUMBER OF THE JOINT HIGH-TECH INDUSTRIAL PROJECTS.

THE COMMITTEE EMPHASIZED THE IMPORTANCE OF ENHANCING COOPERATION BETWEEN THE BUSINESSMEN OF THE TWO COUNTRIES IN THE FIELD OF PETROCHEMICAL INDUSTRIES.

THE RECOMMENDATIONS STRESSED THE SIGNIFICANCE OF CONTINUAL EXCHANGE OF VISITS BY EXPERTS IN THE SPHERES OF SCIENCE, TECHNOLOGY AND INFORMATION AND ENHANCEMENT OF COOPERATION IN THE FIELDS OF POSTS AND TELECOMMUNICATIONS.

Source: SPA

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