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| Czech top diplomat aims to boost business with diversifying oil-rich Saudi kingdom |
| Prag, 20.09.2021 |
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| Last year, the Czech Republic exported goods and services worth more than 14 billion crowns to the United Arab Emirates, some seven times more than it imported.
And Czech exports to Saudi Arabia stood at 9.7 billion crowns in 2020, just shy of five times the value of imports from the oil-rich kingdom.
While those sound like solid results, they fall short of the positive trade balances that the Czech Republic achieved in previous year. The ongoing coronavirus pandemic and major fluctuations on the global oil market partly to blame.Czech diplomats see an opportunity on the immediate horizon to boost bilateral trade especially with Saudi Arabia. Inspired by the economic boom in the United Arab Emirates, the kingdom has laid out a plan, called Vision 2030, to liberalise its economy, Prince Faisal bin Farhan al-Saud told Czech Television.
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