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Fostering Growth: Saudi Arabia explores closer ties with Tunisia amid economic changes

In the face of acknowledged challenges, Saudi Arabia seeks to enhance its commercial connections with Tunisia, addressing gaps identified during a recent industrial delegation visit.

Fostering Growth: Saudi Arabia explores closer ties with Tunisia amid economic changes

Despite both countries claiming that it falls short of their ambitions, Saudi Arabia is looking to expand its commercial ties with Tunisia in a number of areas.

During the visit of a Saudi industrial delegation to Tunisia, Saudi Minister of Industry and Mineral Resources Bandar Al-Akhayef remarked on the insufficient level of trade exchange between the two nations. He stated that the purpose of the visit is to identify areas of integration in light of tremendous opportunities.
The minister emphasized the importance of boosting investment possibilities and commerce between the two countries in all fields, highlighting significant industrial and economic overlaps.

The Saudi-Tunisian join committee's tenth session was disrupted by the COVİD-19 pandemic. Saudi non-oil export to Tunisia reached 513,42 million riyals. Tunisia's economy experienced a 2.1% growth rate in Q1 2021, which fitch downgrading it to a high-risk rating.

Saudi Arabia extended a soft loan and $500 million grant to Tunisia, while the World Bank announced a strategic partnership to support the Tunisian government's development plan.

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