Germany and Saudi Arabia have agreed to expand cooperation in energy and future-focused industries, German Minister Katherina Reiche said during an official visit to Riyadh.
Reiche signed ten letters of intent aimed at enabling German companies to strengthen partnerships with Saudi counterparts. The agreements cover strategic sectors including energy, artificial intelligence, hydrogen development, and industrial innovation.
She said the cooperation aligns with Saudi Arabia’s efforts to diversify its economy amid falling oil prices, describing the move as a way to stabilise revenue, reduce unemployment, and create long-term opportunities for the country’s younger population.
The agreements also seek to enhance collaboration between public and private sectors in both countries, supporting value creation and industrial growth through joint projects and investment.