A memorandum of understanding has been signed between Maldives and Saudi Arabia under which the two countries will work together towards promoting trade and strengthening the economy.
A memorandum of understanding has been signed between Maldives and Saudi Arabia under which the two countries will work together towards promoting trade and strengthening the economy.
In a statement released today, the Ministry of Economic Development and Trade said that the MoU had been signed during Minister Mohamed Saeed's official visit to Riyad. From Saudi Arabia, the MoU was signed by their Minister of Commerce and Chairman of Foreign Trade Board Dr Majid bin Abdullah bin Osman Al Qasabi.
The Ministry said that the MoU will encourage broadening of trade relations between the countries, as well cross-border foreign investments. They said that collaboration in tourism, trade, infrastructure and other such sectors will see an increase with this agreement.
In the ceremony held for the signing of the MoU, Minister Saeed extended gratitude for the assistance from Saudi Arabia towards development in the Maldives, and the close relations the countries have shared over the years.
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