Saudi Cabinet Welcomes 21 Agreements From French-Saudi Investment Roundtable
- 5 hours ago
- 3 min read
JEDDAH, August 25 (Saudi Arabia Breaking News) — The Saudi Cabinet welcomed the announcement of 21 agreements and memoranda of understanding at the French-Saudi Investment Roundtable, identifying them as a foundation for broader bilateral investment and economic cooperation.
The Cabinet session was chaired in Jeddah by Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud.
The Cabinet reviewed the state visit of Saudi Crown Prince and Prime Minister Mohammed bin Salman bin Abdulaziz Al Saud to France and his official talks with French President Emmanuel Macron.
It said the talks demonstrated both countries’ intention to deepen strategic cooperation and maintain consultation on regional and international issues, including state sovereignty, international law, diplomatic solutions to conflicts and security threats.
The Cabinet separately welcomed the inaugural meeting of the Saudi-French Strategic Partnership Council, co-chaired by the Crown Prince and Macron.
The council meeting produced new initiatives, agreements and memoranda of understanding covering defense, healthcare, artificial intelligence, emerging technologies and entertainment.
The French-Saudi Investment Roundtable focused on cooperation and joint investment supported by the expansion of bilateral economic ties and opportunities associated with Saudi Vision 2030.
Minister of State, Cabinet Member for Shura Council Affairs, and Acting Minister of Media Issam bin Saad bin Saeed presented the Cabinet’s statement following the session.
The Cabinet also reviewed regional and international developments and Saudi efforts to reduce tensions, prevent renewed conflicts and support comprehensive diplomatic solutions.
It emphasized that the Strait of Hormuz, Bab al-Mandab and other vital waterways must remain open, secure and free from threats to maritime navigation.
The Cabinet welcomed the outcomes of the Third Saudi-Japanese Strategic Dialogue, which focused on investment, energy, resources, supply chains, technology and exchanges of expertise.
It was also briefed on messages received by King Salman and the Crown Prince from UAE President Sheikh Mohamed bin Zayed Al Nahyan and UK Prime Minister Andy Burnham.
In its review of events hosted by the Kingdom, the Cabinet praised the 46th King Abdulaziz International Competition for Memorizing, Reciting, and Interpreting the Holy Quran, which brought together male and female contestants from 133 countries.
The Cabinet also reviewed the first two editions of the Esports World Cup in Riyadh and its third edition in Paris, citing the event as part of Saudi Arabia’s support for gaming, esports and creative industries.
Among its formal decisions, the Cabinet authorized the minister of transport and logistic services, or a deputy, to sign the draft United Nations Convention on Negotiable Cargo Documents adopted by the UN General Assembly.
It authorized the minister of health, or a deputy, to discuss and sign a draft memorandum of understanding with Portugal on cooperation in health fields.
The minister of education and chairman of the National eLearning Center, or a deputy, was authorized to discuss and sign a draft MoU with the Regional Center for Quality and Excellence in Education covering e-learning cooperation.
The Cabinet also authorized discussions and the signing of a draft cooperation agreement between the Social Development Bank and the United Nations Conference on Trade and Development. The proposed agreement concerns technical assistance for developing the capabilities of small and medium-sized enterprises and startups under the Empretec Program.
Two memoranda of understanding between the Saudi General Court of Audit and the audit authorities of Cyprus and The Gambia were approved in the fields of accounting, auditing and professional cooperation.
The Cabinet also approved the unified Gulf Cooperation Council law for voluntary work adopted by the 44th session of the GCC Supreme Council.
Source: SPA
