The Saudi and Danish sides signed a memorandum of understanding to establish a Saudi-Danish Business Council, which will support and strengthen trade relations between the Kingdom and Denmark through the business sectors.

The memorandum was signed by Dr. Abdulrahman bin Abdullah Al-Zamil, Chairman of the Council of Saudi Chambers, and Thomas Bostrup, Deputy Director General of the Confederation of Danish Industry, as part of the recent visit to the Kingdom by Prince Frederik Hendrik André, Crown Prince of the Kingdom of Denmark.

The memorandum of understanding stipulates that the Joint Business Council shall consist of representatives of business owners interested in investment and trade from both sides, and that the Council will hold periodic meetings in Riyadh and Copenhagen to discuss and explore opportunities for trade and investment cooperation between the two sides. It will also work to facilitate the exchange of information between the Saudi and Danish business communities regarding economic conditions, market trends, and available investment opportunities, in addition to strengthening ties and agreements in the sectors of economic and industrial cooperation and submitting proposals and studies to the relevant authorities in both countries with the aim of improving and developing economic cooperation, as well as exchanging trade delegations and organizing exhibitions and various events.

The signing of this memorandum is the result of ongoing efforts and joint Saudi-Danish initiatives to enhance the level of cooperation between the two countries.