Armenian FM, minister of economy of Saudi Arabia discuss development  of economic ties 

ArmInfo.At their meeting, Armenian FM Ararat Mirzoyan and Minister of Economy and Planning of  Saudi Arabia Faisal bin Fadhil Alibrahim discuss issues of development of bilateral economic ties. 

According to the press service of the Armenian Foreign Ministry, in  this vein, Mirzoyan emphasized that after the establishment of  diplomatic relations between the two countries, the time has come to  build a comprehensive bilateral agenda, the best basis for which can  be the development of trade and economic relations. In response to  this approach, the Saudi side proposed to mutually agree on a "road  map" reflecting the interests of both countries in order to achieve  the most effective implementation of the existing potential.

The parties also exchanged views on the prospects for developing  cooperation in such areas as tourism, services, infrastructure  development and attracting investment. Particular attention was paid  to the development of direct connections between business circles,  the implementation of regular direct flights, and the formation of  the necessary institutional base. An agreement was reached to develop  the necessary legal framework.

In the context of investment opportunities and sustainable economic  development, Mirzoyan presented to his interlocutor the details of  the "Crossroads of Peace" project developed by the Armenian  government.  Noting that the project has attracted the attention of a  number of international partners, the head of the Armenian Foreign  Ministry proposed to consider the opportunities that the development  of communications to the Black Sea opens up for the Persian Gulf  countries.

Adding that a stable environment is necessary for economic  development, the head of the RA Foreign Ministry presented the vision  of the Republic of Armenia to achieve lasting stability and peace in  the South Caucasus, including the process of normalizing relations  with Azerbaijan.