Saudi Arabia has signed a bilateral investment promotion and protection agreement with Syria during a joint roundtable meeting held in Riyadh, SPA reported on August 18.

Saudi Investment Minister Khalid al-Falih noted the remarkable progress in economic relations between the two countries, which resulted in signing joint agreements and memoranda of understanding.

Al-Falih said the announced investments aim to provide an attractive investment environment for investors based on principles of transparency, justice and fairness, whilst confirming Saudi support for establishing an investment fund in Syria.

During the meeting that included Syria's delegation led by Economy Minister Mohammad al-Shaar, al-Falih invited Saudi companies to participate in the Damascus International Fair, which will be held in the Syrian capital after a period of suspension, adding that 80 Saudi companies have already registered to participate in the exhibition.

Following Crown Prince Mohammed bin Salman's directives to deepen and develop the partnership between Saudi Arabia and Syria, the Syrian delegation arrived in the Saudi capital for an official visit to build bridges of economic cooperation and enhance regional integration.

The visit comes as a continuation of the outcomes of the Saudi-Syrian Investment Forum held last month under the patronage of Syrian President Ahmad al-Sharaa, with participation from more than 100 companies and 20 government entities from Saudi Arabia, where signed agreements included 47 investment projects in vital sectors, with total investments exceeding SAR24bn ($6.4bn).