Saudi Arabia is one of the most important destinations for Swiss exports in the Middle East. The recent development of trade between Switzerland and Saudi Arabia is remarkable. In 2007 Swiss exports to the Kingdom amounted to CHF 1.5 billion marking a 26.5% increase against 2006. Swiss imports from the Kingdom were at CHF 384 million in 2007. Exports to Saudi Arabia amounted to CHF 855 mio. for the first seven months of 2008. Swiss imports from Saudi Arabia amounted to CHF 203 mio. for the same period.

Swiss direct investment to Saudi Arabia amounted to CHF 292 mio. in 2006 (capital stock) marking an increase of 85% against 2005. About 50 joint ventures involving Swiss investors are operating in Saudi Arabia’s manufacturing and services sectors.

On 9 August 2008 the Agreement between the Swiss Confederation and the Kingdom of Saudi Arabia on the encouragement and reciprocal protection of investments entered into force. This agreement provides additional incentives for Saudi and Swiss companies to engage in mutual business activities and to invest in establishments beyond representative offices and local agents in the territory of the other side.

 
The Saudi-Swiss Business Council (SSBC) was established on 1 April 2006 between the Swiss Business Association Saudi Arabia (SBASA) and the Saudi Council of Chambers of Commerce and Industry. The SSBC is a non-governmental and non-profit organization aiming at assisting Swiss and Saudi business communities as to maintain effective and continuing communication on bilateral commercial relations and to provide means to stimulate two-way flows in trade and investment. It is aiming further at carrying out more systematically business promotional activities in trade, investment, technology transfer, services and other industrial sectors. The SSBC held a first plenary meeting on 24 to 26 April 2007 in Switzerland. Steering Committee meetings were held on 6 November 2007 and on 13 April 2008 in Saudi Arabia. The second plenary meeting is foreseen to take place in Riyadh in the first half of 2009.

The Swiss side to the SSBC, the Swiss Business Association Saudi Arabia (SBASA) is an apolitical non-profit organisation which seeks to contribute to the expansion of the economic, commercial and cultural relations between Switzerland and Saudi Arabia. The association’s main purpose is to enhance and to cultivate the economical exchange and cultural relationship between Saudi Arabia on the one hand and the countries of Switzerland and Liechtenstein on the other hand.