The first Saudi-Uzbek Investment Forum was held recently in the Uzbek city of Bukhara.The forum was held under the co-auspices of Minister of Investment Khalid Al-Falih and the Uzbek deputy Prime Minister and Minister of Investment and Foreign Trade, Sardor Umurzakov.

Businessmen and representatives of the two countries government and private sectors participated in the forum.

Al-Falih, in his opening speech delivered during the forum, conveyed the greetings of King Salman and Crown Prince Mohammed bin Salman to the leadership and people of Uzbekistan. He reaffirmed the keenness of the Saudi leadership to cement bilateral relations with Uzbekistan in the political, economic, religious and cultural fields.

Al-Falih said the aim was to build ties through empowering the private sector's companies, facilitating business performance and overcoming any challenges that might arise.

Umurzakov said that the partnership between the Kingdom and Uzbekistan in the energy sector was one of the most prominent examples of the relationship between the two countries and that this would serve as a bridge to strengthen economic cooperation.

Agreements and memoranda of understanding were signed including an arrangement to establish the Saudi-Uzbek Business Council to enhance joint work and enable the private sector to access investment opportunities in both countries. Other signings included a bilateral agreement between Saudi Flynas Airline and Uzbekistan Airways to operate direct flights between Saudi Arabia and Uzbekistan, and a memorandum of understanding between the King Faisal Center for Research and Islamic Studies and the Center for Islamic Civilization in Uzbekistan to strengthen cooperation in the areas of education, research, scientific studies, printing, culture and manuscripts.