VIENNA: Saudi Arabia’s economy ministry and its Austrian counterpart signed a memorandum of understanding to boost economic cooperation between the two nations. The Saudi Ministry of Economy and Planning Austria’s Ministry of Labor and Economy in the deal on the sidelines of the Saudi-Austrian Joint Committee held in the Austrian capital. The MoU was signed by the Saudi Minister of Economy and Planning Faisal bin Fadel Al-Ibrahim, and the Austrian Minister of Labor and Economy, Martin Kocher. The parties are also committed to protecting intellectual property rights and exchanging information for the purposes specified in the MoU. This MoU comes within the framework of a cooperation agreement in the economic, commercial, industrial and technical fields signed between the two governments in 2004.
