German Economy Minister Katherina Reiche announced that Germany and Saudi Arabia will expand their energy cooperation following talks in Riyadh. During the visit Reiche signed ten letters of intent designed to open the way for German firms to deepen ties with Saudi partners.
The agreements focus on strategic, forward-looking sectors such as energy, artificial intelligence, hydrogen, and industrial innovation and value creation. Reiche said the measures are intended to support Saudi efforts to diversify revenue as oil prices fall, helping to stabilize government income, lower unemployment and generate new opportunities for young people.
The pact also seeks to strengthen collaboration between public and private actors in both countries, creating a framework for joint projects and increased commercial cooperation.