12/10/2017 11:48 AST

Under the slogan ‘Together … Forever,’ the UAE-Saudi Business Forum was held yesterday (Wednesday, October 11, 2017) in Abu Dhabi under the patronage of His Excellency H.E. Engr. Sultan bin Saeed Al Mansoori, UAE Minister of Economy and H.E. Dr. Majid Al Qasabi, Minister of Commerce and Investment in KSA. The event saw the participation of more than 1,000 officials, investors and entrepreneurs coming from the two countries.
The forum, which was held at the Emirates Palace Hotel, included three sessions that covered key discussions on the national transformation plans under UAE Vision 2021 and KSA Vision 2030; industrial integration and the role of women in the economy. The forum also discussed key ways on how to enhance cooperation across eight main sectors, including industry, tourism, oil, aviation, construction, financial services, food stuff, gold, jewelry, medicines and medical equipment.
The forum was attended by H.E. Saif Mohamed Al Hajeri, Chairman of Abu Dhabi Department of Economic Development; H.E. Mohammed Ahmed bin Abdul Aziz Al Shehi, Undersecretary of the Ministry of Economy for Economic Affairs; H.E. Abdullah bin Ahmed Al Saleh, Undersecretary of the Ministry of Economy for Foreign Trade and Industry; H.E. Khalifa Salem Al Mansouri, Undersecretary of Abu Dhabi Department of Economic Development, along with a number of UAE senior officials and a Saudi delegation composed of more than 160 officials from several government agencies and the private sector.
The forum is part of the joint retreat called ‘Khalwat Al Azm,.’ The outcomes of the event are aimed at enhancing trade, economic and investment cooperation, strengthening ties and opening new investment channels to promote diversification of sources of income, attracting value added investments and increasing the volume of non-oil exports.
The forum was organized by the Ministry of Economy, Abu Dhabi Department of Economic Development-and Abu Dhabi Chamber of Commerce and Industry in cooperation with the Higher Corporation for Specialized Economic Zones (ZonesCorp).
The UAE-Saudi Business Forum was opened with a welcoming speech given by H.E. Saif Mohamed Al Hajeri, emphasizing that the forum is part of the distinguished relations between the two countries. In his speech, he lauded the efforts of the Saudi-UAE Coordination Council, which represents an exceptional example of the serious cooperation between both countries. Al Hajeri also announced that Abu Dhabi Department of Economic Development has taken a number of measures and procedures that are focused on further enabling Saudi investors in Abu Dhabi--including the provision for all facilities and exemptions covered in the ‘Tajer Abu Dhabi’ and ‘Industry Pioneers’ initiatives.
H.E. Eng. Sultan bin Saeed Al Mansoori, UAE Minister of Economy, delivered the opening speech wherein he expressed his pride of the sincere brotherhood between the UAE and KSA, which represents a unique example of cooperation at the Gulf and Arab levels, openly demonstrated by the continuing efforts to enhance stability and growth of the region. H.E. Al Mansoori pointed out that the bilateral relations between UAE and KSA are still witnessing continuous development and growth, driven by the firm will and sincere determination of the leaderships of the two countries--led by His Highness Sheikh Khalifa bin Zayed Al Nahyan, President of the UAE and the Custodian of the Two Holy Mosques, H.H. King Salman bin Abdulaziz Al Saud--to advance cooperation and synergy between the two countries across various fields of development.
H.E. said: “The UAE–Saudi Business Forum is a vital platform for further achieving greater economic, trade and investment cooperation, based on a joint strategy that focuses on investing in the development prospects and capabilities of the UAE and KSA, which are the two largest Arab economies, as well as benefiting from their huge commercial and investment potentials.”


Press Release

Ticker Price Volume
QNBK 122.00 272,559
BURUJ 31.60 66,874
SABIC 97.20 1,039,482
TAWUNIYA 92.80 26,112
JULPHAR 2.30 0
DARALARKAN 7.15 7,269,357
WALAA 27.80 8,032
Fitch Affirms Kuwait at 'AA'; Outlook Stable

23/10/2017

Fitch Ratings-Hong Kong-23 October 2017: Fitch Ratings has affirmed Kuwait's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'AA' with a Stable Outlook.

A full list of rating ac

Press Release

UAE & Spain agree on cooperation in trade, investment and innovation

23/10/2017

The 4th session of the UAE- Spain Joint Economic Committee was held in Dubai today (Monday, October 23, 2017). The ministerial meeting of the committee was chaired by H.E. Eng. Sultan bin Saeed Al Ma

Press Release

Government Treasury Bills issue 1674 fully subscribed

23/10/2017

The Central Bank of Bahrain (CBB) announced that this week’s BD 70 million issue of Government Treasury Bills has been fully subscribed by 100%.

The bills, carrying a maturity of 91 days, ar

BNA

Saudi Arabia joins Islamic finance body, could boost cross-border deal

23/10/2017

Saudi Arabia’s central bank has joined an international standard-setting body for Islamic finance, a move that could help standardise industry practices and ease cross-border transactions in the King

Reuters

MENA power, utilities M&A transactions reach $845m

23/10/2017

An influx of European investors saw the region’s deal activity increase to six times that of the first quarter of 2017, reaching $845 million in the second quarter of this year, according to the quar

Oman Daily Observer