The Custodian of the Two Holy Mosques King Salman bin Abdulaziz, during his presidency of the Arab-Latin Summit, called for “establishing businessmen councils, considering signing free trade agreements, avoiding double taxation, and encouraging and protecting investments between the countries of the two regions that will provide a regulatory and legal framework to enhance trade flows between them.”

The Custodian of the Two Holy Mosques King Salman bin Abdulaziz called for the establishment of businessmen councils.

The Custodian of the Two Holy Mosques added: “The opportunities to develop economic relations between our countries are promising and promising in order to achieve the development and prosperity of our homelands and push us to overcome obstacles and impediments, encourage and support the flow of investments, exchange experiences, transfer and localization of technology, and cooperation in all fields,” praising “the good growth in trade exchange rates and the volume of intra-regional investments since our first summit in Brasilia in 2005.”

The Custodian of the Two Holy Mosques added that the new agreement will provide a regulatory and legal framework to enhance trade flows between them. <It is worth noting that the Fourth Businessmen's Forum for Arab and South American Countries, which preceded the summit, called for the establishment of a joint private sector company for maritime transportation and another for logistics services between Arab and South American countries. <The forum recommended increasing direct flights between Arab countries and South America and facilitating the granting of visas for tourism and business.