Minister of Economic Development and Trade Mohamed Saeed has signed a Memorandum of Understanding (MoU) with Saudi Arabia to strengthen trade relations between the two countries, it has been confirmed. Saeed is currently on an official visit to the Middle Eastern nation for bilateral trade talks.
Saudi Arabian Minister of Commerce Majed bin Abdullah Alkassabi, who is also the chairman of the country’s General Authority of Foreign Trade, signed the MoU on behalf of the Saudi government.
The Maldives’ Ministry of Economic Development and Trade, in a statement issued on Tuesday, said that the MoU signed on Monday will strengthen trade relations, increase investment opportunities, and further enhance ties in areas such as trade, tourism, and infrastructure development.
The MoU will go a long way towards strengthening President Mohamed Muizzu’s economic vision for the future and is a symbol of the strong relationship between the two countries, Saeed said.
Saeed is also said to have held talks with Saudi Investment Minister Ibrahim Almubarak.
Moosa Zameer, during his visit to Saudi Arabia before his portfolio change from Minister of Foreign Affairs to Minister of Finance on Monday, also engaged in trade talks and handed over a letter from President Muizzu to the nation’s leadership.