The Saudi Cabinet has approved a Memorandum of Understanding (MoU) aimed at strengthening trade relations between Saudi Arabia and the Maldives.
The MoU, which was signed during Economic Minister Mohammed Saeed's official visit to Saudi Arabia last September, marks a significant step in enhancing bilateral cooperation.
The Ministry of Economic Development announced today that the agreement has been officially approved by the Saudi government's cabinet. The MoU outlines a framework for exploring mutually beneficial investment opportunities, fostering cooperation in tourism and infrastructure, and further boosting trade relations between the two nations.
As part of the agreement, Saudi Arabia has expressed its intention to take the Maldives as a model for similar future projects, as it has already provided substantial aid to the country, including the Velana International Airport project. The Maldives is expected to benefit from similar initiatives aimed at strengthening its infrastructure and boosting economic growth.
The MoU, which was signed during Economic Minister Mohammed Saeed's official visit to Saudi Arabia last September, marks a significant step in enhancing bilateral cooperation.
The Ministry of Economic Development announced today that the agreement has been officially approved by the Saudi government's cabinet. The MoU outlines a framework for exploring mutually beneficial investment opportunities, fostering cooperation in tourism and infrastructure, and further boosting trade relations between the two nations.
As part of the agreement, Saudi Arabia has expressed its intention to take the Maldives as a model for similar future projects, as it has already provided substantial aid to the country, including the Velana International Airport project. The Maldives is expected to benefit from similar initiatives aimed at strengthening its infrastructure and boosting economic growth.
