Saudi Arabia, South Korea agree to strengthen their economic ‎relations

South Korea intends to strengthen its economic cooperation with Saudi Arabia, as the two countries share a common goal to diversify their growth engines, the Korean Finance Ministry said Wednesday.

According to “Korean Yonhap,” Finance Minister Cho Kyung-ho and Minister of Economy and Planning Faisal Al-Ibrahim reached a consensus during their bilateral talks held in Seoul earlier today, Wednesday.

During the meeting, Al-Ibrahim said that his country wants to strengthen relations with South Korea in developing medium and long-term economic strategies, as Saudi Arabia is currently seeking to diversify its growth engines.

In response, Zhu said South Korea is willing to share its development experience and work with the Middle Eastern country to solve outstanding challenges.

Zhu added that policy coordination will pave the way for the two countries to expand exchanges in infrastructure, energy and service industries.