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

DESIRING to intensify economic co-operation between both Parties,

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

HAVE AGREED AS FOLLOWS: