Saudi Arabia expands trade ties with Mauritania

Business leaders and ministers from both countries are taking part in the Saudi-Mauritanian Economic Forum. (SPA)
Updated 24 April 2019
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Saudi Arabia expands trade ties with Mauritania

  • Business leaders and ministers from both countries are taking part in the Saudi-Mauritanian Economic Forum

JEDDAH: Saudi Arabia is looking to expand its trade and investment links with Mauritania at a high-level forum that kicked off on Monday in the Mauritanian capital Nouakchott.

Business leaders and ministers from both countries are taking part in the Saudi-Mauritanian Economic Forum, jointly organized by the Council of Saudi Chambers and the National Employers Union of Mauritania.

Khadija Mubarak, Mauritania’s commerce, industry and tourism minister, said a series of presentations and special meetings with Mauritanian officials will allow investors to examine opportunities in the northwest African nation.

Mauritanian government policies are encouraging investment in the country, she said, enabling it to rank high in the business climate index.

Several partnership agreements have been signed with African countries and development partners in the EU, as well as free trade pacts to promote trade in the region, Mubarak said.

Dr. Sami bin Abdullah Al-Obaidi, president of the Council of Saudi Chambers, said that the forum will open new horizons for business owners by increasing trade volume and expanding the economic partnership between the two countries.

“It also aims to enable officials and business owners in both countries to exploit economic potential, natural resources, and multiple investment opportunities in the Kingdom and Mauritania,” he said.

Al-Obaidi said that the Kingdom is working to strengthen trade relations with countries that have a healthy economic outlook.

“Mauritania has a strong and diverse economy,” he said.

Mohammed Ould Cheikh Ali Ahmed, head of the National Employers Union of Mauritania, said the forum reflects the keenness of the political leadership in both countries to “consolidate the ties of brotherhood and friendship.”

“The forum comes at a time when Mauritania is witnessing investment-stimulating developments in terms of security, stability, great economic potential and promising investment opportunities, enabling it to become a preferred destination for international investments and for major international companies in the areas of energy, metals, agriculture, fishing and animal development,” he said.

Mauritanian Prime Minister Mohamed Ould Salem Ould Al-Bashir welcomed a delegation of Saudi business owners who will meet with ministers, officials and investors to discuss trade and investment partnerships between the two countries.


Peace is our priority but the world must take a stand against Iran, says Saudi cabinet

Updated 22 May 2019
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Peace is our priority but the world must take a stand against Iran, says Saudi cabinet

  • Saudi cabinet says the international community must take firm action against the regime in Tehran
  • Saudi’s king invites GCC leaders to hold Gulf and Arab summits in Makkah on May 30

JEDDAH: The Saudi cabinet on Tuesday said that while the Kingdom believes all people in the region have a right to live in peace, including the Iranians, the international community must take firm action against the regime in Tehran to prevent it from spreading destruction and chaos.

After a meeting of the Council of Ministers at Assalam Palace, presided over by King Salman, Turki Al-Shabanah, the minister of media, told the Saudi Press Agency that the cabinet reviewed reports on regional and global development, and the king invited GCC leaders to hold Gulf and Arab summits in Makkah on May 30. The invitation reflects the Kingdom’s desire to work with other nations to boost security and stability in the region, the minister said, especially in light of the Iran’s continuing aggressive actions. The regime’s recent activities threaten regional and international peace and security, and the supply and stability of international oil markets, he added.

Al-Shabanah reiterated the Kingdom’s commitment to peace and said it will make every effort to prevent war. The nation’s hand is always extended, he added, in the belief that everyone in the region, including the Iranians, has the right to live in a secure and stable environment.

However, the cabinet called on the international community to shoulder its responsibilities by taking a firm stance against the actions of the regime in Tehran, to prevent its disruptive and destructive activities throughout the world. It also called on Iran to halt the reckless and irresponsible behavior of its agents, to save the region from the dangers they pose and potential repercussions.

The cabinet also expressed the Kingdom’s hopes and expectations that the 14th Ordinary Session of the Islamic Summit Conference, will encourage unity of response to ongoing events in the Islamic world. The summit, chaired by King Salman, will be held in Makkah on May 31 under the title “Makkah Summit: Hand in Hand toward the Future.”

Ministers heard that the Kingdom has sent $250 million to the Central Bank of Sudan as part of a previously announced package of assistance in partnership with the United Arab Emirates. This latest demonstration of support from the Kingdom to the Sudanese people aims to help stabilize the country’s economy, and strengthen the Sudanese pound in particular, to help improve the lives of the nation’s people.

The cabinet also welcomed the decision of the 14th meeting of the Joint Ministerial Committee to monitor an oil production reduction agreement concluded in Jeddah, which was headed by the Kingdom and Russia, and affirmed its commitment to balancing the oil market and stabilizing it on a sustainable basis.

Turning to local affairs, the Council of Ministers confirmed the generous support of SR 100 million ($26.7 million) from the king, and SR 30 million from Crown Prince Mohammed bin Salman to the Jood Housing platform. Launched a day earlier, and supervised by the National Housing Development Association, it aims to accelerate the development process through the introduction of a new model of social solidarity, in which government, charities and commercial entities work together in accordance with regulations designed to provide support for those in need.

The council also discussed the results of the 26th meeting of the region’s governors, and praised the king for his directives designed to preserve security and help people throughout the Kingdom.