Saudi, Djibouti sign economic cooperation agreement

Maritime transport is one of the areas that the agreement covered. (Reuters)
Updated 23 December 2017

Saudi, Djibouti sign economic cooperation agreement

RIYADH: Saudi Arabia and Djibouti yesterday signed a cooperation agreement in areas including industry, energy, mineral wealth, telecommunications, information technology, housing health, agriculture, water and environmental protection.
The agreement included measures to speed up the development of air transport between the two countries and ways to increase trade through improved maritime transport, according to Asharq Al-Awsat.
The agreement also included ways of increasing the volume of trade and investment exchange between the two countries in accordance with both the Saudi Vision 2030 and Djibouti’s Vision 2035.
A Saudi-Djibouti economic fair was held in Riyadh where businessmen from the two countries held talks.
The agreement focused on strengthening cooperation with the Central Bank of Djibouti to exchange information and credit reports on banks and companies in Djibouti.
Saudi Arabia expressed its desire to set a date for the start of the first round of negotiations within two months to avoid double taxation between the two countries, and the list of members of the Saudi Executive Committee for the Saudi-Djibouti Business Council has also been decided on.
The council will meet after Djibouti selects its members for the committee.


Inaugural Global AI Summit opens virtually

Updated 18 min 39 sec ago

Inaugural Global AI Summit opens virtually

  • World’s leading CEOs, innovators and policymakers to attend virtual event

DUBAI: The inaugural Global AI Summit, which bills itself as the premier platform for dialogue on artificial intelligence, opens virtually on Wednesday and brings together stakeholders from the world of academia, government and the private sector during the two-day event.

The Global AI Summit, organized by the Saudi Data & AI Authority (SDAIA) and G20 Saudi Secretariat honoring Saudi Arabia’s presidency of the international forum, will explore artificial intelligence’s role in the new global era and how its transformational potential can be deployed “to create a better future for all.”

The two-day virtual event will particularly tackle what artificial intelligence “means for policy and decision makers interested in leveraging the potential, for the good of humanity.”

Among the world’s leading CEOs, innovators and policymakers who will be at the event are: Abdullah Al-Swaha, Saudi Arabia’s minister of communications and information technology; Omar Sultan Al-Olama, the UAE minister of state for artificial intelligence; Masayoshi Son, the founder and CEO of SoftBank Group Corp; and Houlin Zhao, the secretary-general of the International Telecommunication Union.