Saudi Cabinet welcomes Ethiopian, Eritrean peace agreement

King Salman chairs the Cabinet session in Jeddah on Tuesday. (SPA)
Updated 18 September 2018
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Saudi Cabinet welcomes Ethiopian, Eritrean peace agreement

  • The king briefed the Cabinet on the results of his meetings with Eritrea President Isaias Afwerki and Ethiopian Prime Minister Abiy Ahmed Ali to sign the Jeddah Peace Agreement
  • The king wished the two countries further security, prosperity and stability

JEDDAH: King Salman chaired the Cabinet’s session at Al-Salam Palace in Jeddah on Tuesday.

The king briefed the Cabinet on the results of his meetings with Eritrea President Isaias Afwerki and Ethiopian Prime Minister Abiy Ahmed Ali to sign the Jeddah Peace Agreement.

King Salman expressed his congratulations to the two countries and said that he hoped the signing of the agreement would be a strong basis for closer cooperation and friendship, achieving security and stability, and would positively affect the security and stability of the region.

The king also congratulated Djibouti and Eritrea on their historic meeting in Jeddah — which came in response to his invitation — wishing the two countries further security, prosperity and stability.

The Cabinet praised the efforts of the two countries’ leaders to restore relations between them to establish a new stage that would witness a great development in relations and further cooperation.

The Cabinet congratulated the king and crown prince on the success of these efforts, which resulted in the signing of the Jeddah Peace Agreement and also the historic meeting between Djibouti and Eritrea after ten years of severed relations. 

The Cabinet praised the resolutions of the 150th ordinary session of the Arab League’s Council at the level of foreign ministers held in Cairo, and the statement issued by the Arab Quartet Ministerial Committee held on the sidelines of the 150th session of the Arab League’s Council, on the follow-up of the crisis with Iran and ways to address its interference in the internal affairs of Arab countries.

The Cabinet highlighted the terrorism practiced by Iran through its interference in Arab affairs, which needs cooperation to confront and deter, reiterating that the Kingdom has made efforts to combat terrorism and has not hesitated to provide support with the cooperation of the international community to address this.

The Cabinet expressed the Kingdom’s strong condemnation of the suicide bombings north of Tikrit in Iraq, the Somali capital of Mogadishu and Nangarhar province in eastern Afghanistan, expressing condolences to the families of the victims, the governments and peoples of Iraq, Somalia and Afghanistan.


Forum aims to boost Saudi-Japan trade ties

Updated 45 min 51 sec ago
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Forum aims to boost Saudi-Japan trade ties

  • Japan is one of Saudi Arabia’s most important economic partners

TOKYO: More than 300 government, investment and industry leaders on Monday took part in a high-level gathering aimed at further boosting business opportunities between Saudi Arabia and Japan.

The Saudi Arabian General Investment Authority (SAGIA) welcomed key figures from the public and private sectors to the Saudi-Japan Vision 2030 Business Forum, held in Tokyo.

Hosted in partnership with the Japan External Trade Organization (JETRO), the conference focused on the creation of investment opportunities in strategic sectors of the Kingdom. Delegates also discussed key reforms currently underway to enable easier market access for foreign companies.

Speaking at the event, Saudi Economy and Planning Minister Mohammed Al-Tuwaijri, said: “Today’s forum is a testimony to the success of the strategic direction set by the Saudi-Japanese Vision 2030 two years ago, which seeks to drive private-sector involvement, both by partnering with public-sector entities.”

SAGIA Gov. Ibrahim Al-Omar said: “At SAGIA, we have been working on creating a more attractive and favorable business environment in Saudi Arabia, which is making it easier for foreign companies to access opportunities in the Kingdom.”

Japan is one of Saudi Arabia’s most important economic partners. It is the Kingdom’s second-largest source of foreign capital and third-biggest trading partner, with total trade exceeding $39 billion.

JETRO president, Yasushi Akahoshi, said: “Saudi-Japan Vision 2030 has made great progress since it was first announced. Under this strategic initiative, the number of cooperative projects between our two countries has nearly doubled, from 31 to 61, and represents a diverse range of sectors and stakeholders.”

Since 2016, the Saudi government has delivered 45 percent of more than 500 planned reforms, including the introduction of 100 percent foreign ownership rights, enhancing legal infrastructure and offering greater protection for shareholders.

As a result, the Kingdom has climbed international competitiveness and ease-of-doing-business rankings, with foreign direct investment inflows increasing by 127 percent in 2018 and the number of new companies entering Saudi Arabia rising by 70 percent on a year-on-year basis in the first quarter of 2019.