Saudi Arabia Approves Economic and Energy Deals with Jordan, Brazil, Japan, and Others
Saudi Arabia's Cabinet approved economic and energy deals with countries such as Jordan, Brazil, Japan, Qatar, Oman, Georgia, and Morocco during its latest meeting.
The deals include financing operations cooperation between the central banks of Saudi Arabia and Qatar.
The Council of Ministers also discussed ongoing international cooperation, focusing on energy accords with Uzbekistan and Azerbaijan.
These agreements aim to ensure petroleum market sustainability and stability, as well as advance clean energy sectors as part of a global energy transition.
The Saudi Arabian Cabinet held a session focused on enhancing cooperation with Jordan, Morocco, and Brazil.
The Cabinet expressed appreciation for recent Arab conferences on environmental matters and emphasized the importance of sustainable development goals.
Agreements were cleared during the session, including an energy cooperation deal between Saudi Arabia and Jordan, and memorandums of understanding between the Saudi Ministry of Energy and Brazil's Ministry of Mines and Energy, as well as the Saudi Ministry of Industry and Mineral Resources and Morocco's Ministry of Energy Transition and Sustainable Development, and Japan's Ministry of Economy, Trade and Industry.
The Cabinet's aim is to build a more sustainable future for the three countries and the world.
The text discusses several agreements approved by the Cabinet, including pacts related to mineral wealth, mining, and mineral resources.
One of these agreements allows the Kingdom to join the Geneva Act of the Hague Agreement concerning the international registration of industrial designs.
The Cabinet also implemented a decision made by the Gulf Cooperation Council states' Financial and Economic Cooperation Committee to exempt industrial inputs from fees.
This decision was finalized during the committee's 120th meeting in Muscat, Oman, in October 2023.