Saudi Arabia, India renew pledge to boost economic ties

King Salman received Indian Finance Minister Arun Jaitley at Al-Yamamah Palace in Riyadh on Sunday. (SPA)
Updated 18 February 2018
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Saudi Arabia, India renew pledge to boost economic ties

RIYADH: Saudi Arabia and India have renewed pledges to boost bilateral economic, investment and trade cooperation following talks between King Salman and Indian Finance Minister Arun Jaitley at Al-Yamamah Palace on Sunday.
“King Salman and the Indian minister discussed bilateral relations and ways of developing and enhancing them in various fields,” said an SPA report.
Jaitley also attended a meeting with a large number of top-notch Saudi businessmen at the Council of Saudi Chamber (CSC), where he was received by Ahmed Sulaiman Al-Rajhi, CSC chairman.
“The progressively growing cooperation between the Kingdom and India in the fields of trade and commerce; and how to strengthen trade ties; figured prominently in the meeting,” said a CSC statement. Saudi Arabia is India’s fourth-largest trading partner besides being a major energy supplier to India. The volume of two-way trade between the two countries exceeded $25 billion in 2016-17.
Dr. Saud M. Al-Sati, the Saudi ambassador to India, told Arab News: “The Saudi-India Joint Ministerial Commission’s (JMC) meeting will be held here on Monday.” The JMC, in which many top Saudi and Indian officials will participate, will chalk out a plan to cooperate with each other for economic development, he added. This 12th JMC will be co-chaired by Dr. Majed Al-Qasabi from the Saudi side and Jaitley for India.
The meeting will focus on enhancing bilateral cooperation, knowledge exchange and economic ties between the two countries.
Saudi Arabia and India enjoy cordial and friendly relations and have forged closer strategic ties. The visit of King Salman to India, as crown prince in 2014, further deepened the relations between the two countries. Moreover, the recent visit of Indian Prime Minister Narendra Modi in April 2016 is seen as a turning point in the growing engagement between the Kingdom and India.


Saudi Arabia’s Misk partners with UN on youth empowerment

Updated 26 September 2018
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Saudi Arabia’s Misk partners with UN on youth empowerment

  • The Saudi-UN partnership aims to reach and mobilize about 50 million young people around the world in support of the sustainable development goals
  • Saudi Arabia has a big youth demographic, with 60 per cent of the country’s population under the age of 25

NEW YORK: Misk Foundation, the not-for-profit philanthropic organization set up by the Crown Prince of Saudi Arabia, Mohammed bin Salman, has joined forces with the United Nations in a ground-breaking campaign to advance the cause of young people around the world.
The agreement was signed at a ceremony at the UN’s New York headquarters a day after UN secretary-general Antonio Guterres launched his own initiative to enlist young people in its strategy for global sustainable development.
The Saudi-UN partnership aims to reach and mobilize about 50 million young people around the world in support of the sustainable development goals (SDG), via a series of meetings and forums as part of the UN’s Strategy for Youth.
The UN’s SDG program is a set of targets for future development, ranging from the elimination of hunger and poverty, through education and gender equality, to action on climate change and energy. It coincides with Saudi Arabia’s own Vision 2030 strategy in many respects.
Misk is the first non-governmental organization to join the campaign. “Misk’s mission is to discover, develop and empower young people to become active participants in the knowledge economy both in Saudi Arabia and globally, through partnerships such as this,” said a joint statement from the Saudi organization and the UN.
“Under the initiatives, young people’s leadership, creativity and innovation skills will be harnessed to bolster their ability to be agents for positive change during the run-up to the fifth anniversary of the SDGs in 2020.
“Adding to the existing Young Leaders for the SDGs initiative, a ‘Youth Gateway’ central knowledge hub on SDGs is planned, including a platform to map existing initiatives and provide opportunities for engagement, aimed at motivating more young people to take action. Tools will be developed to measure and track global indicators on youth development and well-being,” the statement added.
Bader Alsaker, chairman of the board of the Misk Initiatives Centre, said: "The Misk Foundation is committed to helping as many young people around the world realize their potential in the future economy and to encourage active global citizenship. The strategic agreement that we are signing today shows our commitment to this mission.
“Partnering with the United Nations will greatly enhance its vital work around the world to help young people from all backgrounds to realize their potential and meet the SDGs,” he added.
Jayathma Wickramanayake, the UN secretary-general’s envoy on youth, added: “This major contribution towards the UN Secretariat’s work on youth will be used to operationalize the new UN Strategy on Youth with a focus on advancing our collective efforts to support youth mobilization for the 2030 Agenda worldwide.
“It comes at crucial time, immediately after the public launch of the UN’s Youth Strategy, which shows the commitment and dedication of the Misk Foundation to supporting youth development globally,” she added.
Saudi Arabia has a big youth demographic, with 60 per cent of the country’s population under the age of 25. Many of the policies of the Vision 2030 strategy to reduce oil dependency focus on the need for more and better employment for young people.
According to a recent global poll for the Bill & Melinda Gates Foundation, young people have a far more optimistic view of their own future, as well as that of their country, than older people. “Young people in these countries are more likely to believe they can affect the way their countries are governed and that their generation will have a more positive impact on the world than their parents' generation,” Gates found.
Sultan Al-Musallam, global ambassador of the Misk Foundation, told the UN: “The core belief held by youth, that our problems can only be solved together, in a way that is blind to race, religion or region, is also the bedrock of the UN.”