Under the Patronage of His Majesty the President of Djibouti and H.E. the Minister of Commerce and Investment, a Memorandum of Understanding and two Agreements were signed between Saudi Arabia & Djibouti

16 Apr 2017
​Under the patronage of H. Majesty the President of the Republic of Djibouti, Ismail Omar Gilah, and H. E. the Minister of Commerce and Investment, Dr. Majid bin Abdullah Al Qassabi, a memorandum of understanding was signed for the establishment of the Saudi-Djibouti Business Council, on the sidelines of the Saudi- Djibouti Businessmen Forum.
During the forum, which was attended by a number of government officials and businessmen from the two countries, two agreements were signed to rehabilitate King Fahd Road in Djibouti, and a grant was offered for supporting the health sector in Djibouti.
During the speech of H. Majesty the President of Djibouti, he welcomed the Minister of Commerce and Investment and his accompanying delegation, confirming that this important event comes within the cooperation framework between the two brotherly countries, H. Majesty added that the Kingdom of Saudi Arabia had been playing a great role in supporting Djibouti in all fields since independence, especially in the economic field.
He added that the Djibouti government looks forward to boosting investment between the two countries. Saying: "You are our brothers and relatives, and we are keen that you would have priority, relevant to investments in Djibouti."
For his part, H.E. Minister of Commerce and Investment, Dr. Majid Al-Qasabi, conveyed the greetings of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud to His Majesty the President, the Government and people of Djibouti.
H.E. Dr. Al Qassabi emphasized that some of the goals of the Kingdom’s Vision 2030 represented in attracting foreign investments, creating new markets for Saudi exports and having trade strategic partnerships with foreign countries, H.E. said "The Saudi-Djibouti relations are based on strong basis, since the Arab-Islamic ties that unite the two countries, in addition to their strategic position in the world, call on us to strive to strengthen and to enhance the trade and investment relations. We should endeavor to provide all necessary procedures to facilitate mutual investment, which will be reflected positively on the progress and prosperity of the two brotherly countries.
Meanwhile, H. E. Dr. Al Qassabi thanked H. Majesty the President of Djibouti for the kind hospitality, wishing that the mutual visits between the two countries will continue, for boosting the trade and investment relations between both countries.
The Forum witnessed various presentations by the National Agency for the Development of Investment, Seaports Authority and Free Zones in Djibouti. As for the Saudi side, the General Investment Authority presented the Kingdom’s Vision 2030, while the Saudi Development Fund gave a presentation on the Export Program, in addition to other Saudi companies’ presentations.
It is worth mentioning that the Saudi delegation, headed by His Excellency the Minister of Commerce and Investment, including representatives of several governmental bodies and a number of businessmen, concluded a two-day official visit to Kenya and Djibouti, aimed at enhancing trade exchange and investment relations between the said countries.

Last Modified 26 Dec 2018