• The Government of the Kingdom of Saudi Arabia and the Government of the Republic of Estonia (hereinafter referred to as the Contracting Parties), desiring to strengthen the bonds of friendship existing 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, technological, scientific, creative, and tourism fields, and in recognition of the benefits that may accrue to both countries as a result of enhancing cooperation between them in accordance with the systems and laws in force in both countries, have agreed as follows:

• The contracting parties work to promote economic, commercial, and investment cooperation between their countries and their citizens. This cooperation includes, but is not limited to, the following:

  • 1- Cooperation in all economic fields, including projects related to telecommunications, information technology, green technology, as well as industrial, petroleum, mineral, petrochemical, agricultural, animal husbandry, innovative, tourism, and health sectors.

  • 2- Encouraging the exchange of knowledge and technical expertise necessary for specific cooperative programs.

• The contracting parties shall exert their best efforts to encourage, expand, and diversify their commercial relationship within the framework of the International Commercial Law.

• 1- The contracting parties shall work to encourage and facilitate citizens' investments in all fields, except for fields excluded according to the internal regulations in their respective countries.

• 2- Encouraging the establishment of investment projects in accordance with the applicable investment laws and regulations in both countries.

• 3- The contracting parties shall exert their utmost efforts to conclude an agreement to encourage and protect investment between the two countries.

• 1- The contracting parties encourage the exchange of visits by representatives, delegations, and economic, commercial, and technical missions, whether they are from government officials or from the public or private sector.

• 2- The contracting parties encourage participation in trade exhibitions held in both countries and provide the necessary facilitation for that.

• The contracting parties shall work on the following:

  • 1- Encouraging cooperation in the fields of educational technology, scientific research, and science and technology through the exchange of information in areas of mutual interest.

  • 2- Encouraging cooperation in creative fields, through the exchange of information about positions and interests in international forums and the exchange of programs.

  • 3- Encouraging and developing tourism between the two countries by exchanging tourism information between them, and promoting group and individual tourism for the citizens of both countries.

• The contracting parties agree not to use the information exchanged between them except for the purposes designated for it in accordance with what is agreed upon between them, and each party undertakes not to transfer any information exchanged between them to a third party without the written consent of the other contracting party.

• The contracting parties shall work on concluding independent agreements in specific fields of mutual interest, whenever the need arises.

The contracting parties shall form a joint committee to follow up on the implementation of this agreement, if necessary.