The Kingdom of Saudi Arabia’s cabinet has agreed to enter into a trade agreement with the Maldives, the Maldives’ Ministry of Economic Development and Trade confirmed in a statement on Tuesday.

According to the ministry’s press statement, Saudi Arabia’s National News Agency, while reporting on the cabinet meeting presided over by the King of the Kingdom of Saudi Arabia Salman bin Abdulaziz Al Saud, confirmed that a Memorandum of Understanding (MOU) between the two nations would be signed between the Maldives’ Ministry of Economic Development and Trade, and Saudi Arabia’s Ministry of Economy and Planning (MEP). Minister at the MEP, who is also Chairman of the Foreign Investment Authority, Faisal bin Fadhil Alibrahim will be signing the MOU on behalf of the Saudi government, the release said.

Crown Prince Mohammed bin Salman Al Saud also participated in the proceedings presided over by the King, the statement said.

Minister of Economy and Planning, Faisal bin Fadhil Alibrahim, who had attended the Presidential Inauguration as as a special representative of the Kingdom of Saudi Arabi, had met with President Mohamed Muizzu and discussed improving trade and economic ties, as well as strengthening bilateral relations in other areas, the statement by the Ministry of Economic Development and Trade said.

President Muizzu met with Minister Alibrahim on Saturday, 18 November, and discussed strengthening cooperation in trade, investment and economic development in addition to exchanging views on the nations’ brotherly ties as well as the current situation in the Middle East, particularly in Palestine.