THE REPUBLIC OF AUSTRIA AND THE KINGDOM OF SAUDI-ARABIA (hereinafter referred to as the “Contracting Parties”),

DESIRING to intensify economic co-operation between both Contracting Parties,

INTENDING to create favourable conditions for investments by investors of either Contracting Party in the territory of the other Contracting Party,

RECOGNIZING that the reciprocal promotion and protection of such investments are apt to stimulate private business initiative and to increase the prosperity of both Contracting Parties,

HAVE AGREED AS FOLLOWS: