Media ININ Economy We Trust
Media In / Agencies 16-01- 2019
The General Authority for Investment and the Abu Dhabi International Market – the International Financial Center in Abu Dhabi – today signed a memorandum of understanding to enhance cooperation in the fields of investment, industry and trade between Saudi Arabia and the United Arab Emirates at the Abu Dhabi Sustainable Finance Forum hosted by the Abu Dhabi Global Market During the Abu Dhabi Sustainability Week.
The memorandum of understanding signed by His Excellency the Governor of the General Authority for Investment Eng. Ibrahim bin Abdul Rahman Al Omar and the Chairman of the Abu Dhabi Global Market, Minister of State Ahmed Ali Al Sayegh, aims to increase cooperation between the two countries to enhance investment activities and trade relations between the two countries. As part of this agreement, the two parties will raise the level of economic and trade information exchange through trade and investment seminars, as well as promote investment activities by organizing promotional tours, forums and workshops to attract potential investors as well as support key industry sectors through joint initiatives.
Commenting on the signing of the MoU, HE Ahmed Al Sayegh, UAE Minister of State and Chairman of the Abu Dhabi Global Market, said: “The UAE and Saudi Arabia have a strong political and economic partnership and long established history. The year 2018 saw the announcement of several strategic projects between Kingdom of Saudi Arabia and the United Arab Emirates, thus reaffirming the joint commitment of the two countries to enhance communication to encourage investment and contribute to the efforts of the two governments for economic development, Long-term development of the UAE through improved international relations with the countries of the region and the world. ”
“The Kingdom of Saudi Arabia is the heart of the Arab and Islamic world and the meeting of the three continents, and therefore we believe in the importance of cooperation with the Middle East and North Africa to promote economic growth in the region,” said HE Ibrahim bin Abdul Rahman Al Omar. This is a positive step to achieve this growth.
Saudi Arabia and the United Arab Emirates are the two largest economies in the region and are united by a solid alliance that has grown stronger in recent years thanks to various government initiatives,
Including the signing of the “Determination Strategy” in 2018. This Memorandum of Understanding is set by the General Authority for Investment and the Abu Dhabi Global Market to work closely to enhance cooperation and coordination between the two countries and thus contribute to the realization of Vision 2030 in the Kingdom and Vision 2021 in the UAE.
