Bilateral Treaties
On 30 June 2001 a bilateral "Agreement concerning the Encouragement and Reciprocal Protection of Investments" between the Republic of Austria and the Kingdom of Saudi Arabia was signed in Riyadh. After ratification by Austria in January 2002 and Saudi Arabia in May 2003 the agreement came into effect on 25 July 2003.
On the occasion of the State Visit of H.R.H. Crown Prince Abdullah Bin Abdulaziz to Austria, a bilateral Cooperation Agreement was signed by the Austrian Minister for Economy and Labour, Dr. Martin Bartenstein and the Saudi Foreign Minister, H.R.H. Prince Saud Al Faisal on 31 March 2004 in Vienna.
It is based on the "Agreement on Bilateral Economic Relations and Economic, Industrial and Technological Cooperation" which was sigend on 29 March 1988 and came into effect on 1 July 1989.
In July 2002 a first round of negotiations for a renewed bilateral Air Traffic Agreement - based on the Air Traffic Agreement which was sigend on 13 June 1989 and came into effect on 1 March 1990 - took place in Vienna.
At the end of May 2002 a first round of negotiations for an agreement to avoid double taxation took place in Vienna. The treaty to avoid double taxation and tax evasion was signed on March 19, 2006 and came into effect on June 1, 2007.
