Saudi Arabia is one of the most important destinations for Swiss exports in the Middle East. The recent development of trade between Switzerland and Saudi Arabia is remarkable. In 2007 Swiss exports to the Kingdom amounted to CHF 1.5 billion marking a 26.5% increase against 2006. Swiss imports from the Kingdom were at CHF 384 million in 2007. Exports to Saudi Arabia amounted to CHF 855 mio. for the first seven months of 2008. Swiss imports from Saudi Arabia amounted to CHF 203 mio. for the same period.
Swiss direct investment to Saudi Arabia amounted to CHF 292 mio. in 2006 (capital stock) marking an increase of 85% against 2005. About 50 joint ventures involving Swiss investors are operating in Saudi Arabia’s manufacturing and services sectors.
On 9 August 2008 the Agreement between the Swiss Confederation and the Kingdom of Saudi Arabia on the encouragement and reciprocal protection of investments entered into force. This agreement provides additional incentives for Saudi and Swiss companies to engage in mutual business activities and to invest in establishments beyond representative offices and local agents in the territory of the other side.