The Government of the Kingdom of Saudi Arabia and the Government of the Republic of Cyprus (hereinafter referred to as the Parties), desiring to strengthen the bonds of friendship between the two countries, reinforce the historical ties between their peoples, and develop and support cooperation between their countries in the economic, commercial, investment, educational, scientific, technical, health, cultural, media, tourism, youth, and sports fields, and recognizing the mutual benefits that can be achieved through enhancing cooperation between them in accordance with the systems and laws in force in both countries, have agreed as follows:

• The two parties shall work to encourage economic, commercial, investment, scientific, technical, creative, and artistic cooperation between their countries and their citizens, whether natural or legal persons. This cooperation includes, but is not limited to, the following:

  • 1- Cooperation in all economic fields, including industrial, petroleum, mineral, petrochemical, agricultural, animal husbandry, tourism, and health projects.
  • 2- Encouraging the exchange of knowledge and technical expertise necessary for specific cooperative programs.

Both parties shall exert their best efforts to encourage, expand, and diversify their commercial relationship within the framework of the international commercial law.

• The two parties shall work on the following:

  • 1- Encouraging and facilitating the investments of their citizens in all fields referred to in this agreement, except for the fields excluded according to the internal regulations in their respective countries.
  • 2- Encouraging the establishment of investment projects in accordance with the investment laws and regulations in force in both countries.
  • 3- Exerting their utmost efforts to conclude an agreement to encourage and protect investment between the two countries.

• The two parties encourage the following:

  • 1- Exchange of visits by representatives, delegations, and economic, commercial, and technical missions, whether from the public or private sector.
  • 2- Participation in trade exhibitions held in both countries, and providing the necessary facilitation for that.

• The two parties shall work on the following:

  • 1- Encouraging cooperation in the fields of education, scientific research, science, and technology through the exchange of information in areas of mutual interest, exchanging information related to scientific and technical research, exchanging visits between officials, researchers, experts, and specialists, training researchers and technical assistants, and participating in seminars and scientific conferences of common interest.
  • 2- Encouraging cooperation in the fields of visual, audio, and print media through the exchange of visits and expertise between public and private media institutions in programmatic and technical fields, exchanging audio, visual, and printed materials, and participating in related festivals.
  • 3- Encouraging cooperation in cultural, sports, and youth fields through coordinating positions in international forums, exchanging programs between institutions, associations, and sports and youth federations, and exchanging visits and expertise between officials responsible for youth and sports affairs.
  • 4- Encouraging and developing tourism between the two countries by exchanging tourism information and promoting group and individual tourism for the citizens of both countries.

The parties shall use the information exchanged between them only for the purposes agreed upon, and each party undertakes not to transfer any information exchanged between them to a third party without the written consent of the party that provided it.

The two parties shall work on concluding separate agreements in specific areas of mutual interest, or on concluding joint executive cooperative programs in any of the fields stipulated in this agreement, if the need arises.

The two parties shall form a joint committee to follow up on the implementation of this agreement if the need arises, and the formation of the committee shall be notified through diplomatic channels.