Riyadh, Budapest discuss ways to boost cooperation Saudi Arabia, Bulgaria sign agreement to avoid double taxation

King Salman received Borisov, who is on his maiden visit to the Kingdom, at his palace and described his visit as a major step in the development of mutual relations.

One agreement, signed by Minister of Finance Mohammed Al-Jadaan and Bulgarian Deputy Prime Minister for Judicial Reform and Minister of Foreign Affairs Ekaterina Zaharieva, was on avoidance of double taxation on income taxes and prevention of tax evasion.

The other agreement, signed by Minister of Environment, Water and Agriculture Abdul Rahman Al-Fadhli and Bulgarian Minister of Agriculture, Food and Forestry Rumen Porodzanov, was for cooperation in the field of agriculture, livestock and fisheries.

Borisov was received on Tuesday at the King Salman Airbase by Riyadh Gov. Prince Faisal bin Bandar and Al-Fadli, the delegation’s guiding minister.

The agenda of the visit included issues in key areas such as security, energy, trade, transport and tourism.

Prince Sultan bin Salman, president of the Saudi Commission for Tourism and National Heritage (SCTH), held talks with Bulgarian Minister of Tourism Nikolina Angelkova. The two leaders discussed cooperation in tourism and activation of a cooperation agreement between the two countries, which was signed in Sofia, the Bulgarian capital, last year.

The Saudi Cabinet, chaired by King Salman, endorsed the memorandum of understanding for cooperation between the SCTH and the Bulgarian Ministry of Tourism on Tuesday.

The visiting Bulgarian delegation also included former premier and ex-monarch Simeon SaxeCoburg-Gotha as an honorary guest during the visit.

RIYADH: King Salman and visiting Bulgarian Prime Minister Boyko Borisov saw two agreements between their countries signed during official talks on Wednesday when they explored various aspects of economic and trade cooperation.