Saudi Arabia Committed to Supporting Development, Food Security

Saudi Minister of Foreign Affairs Prince Faisal bin Farhan. (File photo: Reuters)
Saudi Minister of Foreign Affairs Prince Faisal bin Farhan. (File photo: Reuters)
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Saudi Arabia Committed to Supporting Development, Food Security

Saudi Minister of Foreign Affairs Prince Faisal bin Farhan. (File photo: Reuters)
Saudi Minister of Foreign Affairs Prince Faisal bin Farhan. (File photo: Reuters)

Saudi Arabia stressed on Friday the significance of advancing future cooperation to achieve collective prosperity.

The Kingdom affirmed its commitment to cooperating with international partners to achieve the UN Sustainable Development Goals (SDGs) by 2030 and intensify global efforts to enhance food and energy security amid recurring crises and supply-chain issues.

Saudi Arabia is keen to develop future cooperation with the BRICS group to achieve collective prosperity, said Saudi Minister of Foreign Affairs Prince Faisal bin Farhan at the ministerial meeting of Friends of BRICS in South Africa’s Cape Town

He added that the Kingdom aims to advance cooperation with BRICS by benefiting from the capabilities that the Kingdom and BRICS countries possess.

“The Kingdom remains the BRICS group’s largest commercial partner in the Middle East. The total value of bilateral trade with the countries of the BRICS group increased from $81 billion in 2017 to $128 billion in 2021 and exceeded $160 billion in 2022,” he revealed.

Saudi Arabia shares basic values with the BRICS countries such as that relations between countries are based on the principles of respect for sovereignty, non-interference, and adherence to international law, the existence of multilateral frameworks, and collective action as reference points to face common challenges, he went on to say.

Prince Faisal reiterated the Kingdom’s commitment to work with international partners to achieve the UN SDGs by 2030.

The Kingdom is also committed to intensifying global efforts to enhance food and energy security amid recurring crises and supply-chain issues, the FM said, noting that Saudi Arabia plays a significant role in the field of humanitarian and development aid and is among the top ten donors to low- and middle-income countries.

The Saudi delegation in Cape Town included the Undersecretary of the Saudi Ministry of Foreign Affairs for Multilateral Affairs Dr. Abdulrahman Al-Rassi and the Ambassador of the Custodian of the Two Holy Mosques to the Republic of South Africa, Sultan al-Anqari.



Madinah Investment Forum to Kick Off on Sunday

Madinah Investment Forum to Kick Off on Sunday
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Madinah Investment Forum to Kick Off on Sunday

Madinah Investment Forum to Kick Off on Sunday

The Madinah Investment Forum, organized by Al-Madinah Al-Munawwarah Chamber under the theme "Invest in Madinah", will start on Sunday and run for two days.
The forum consists of a diverse range of programs, events, and four specialized dialogue sessions focusing on key aspects of the national investment strategy. It will host 18 speakers and more than 40 entities, and present 200 investment opportunities, valued at over SAR57 billion, in more than ten targeted sectors, SPA reported.
The event will highlight Madinah's significant achievements and showcase development and investment projects in the region. It will explore promising investment sectors, comparative and competitive advantages, and the region's potential to support investment growth. Key areas of focus include hospitality, logistics, agriculture, and real estate.
The forum's objectives include identifying investment opportunities in Madinah, fostering investment partnerships, attracting new investments, and introducing financing solutions and business sector services for major development projects.
The event is aimed at a broad audience, including local and international investors, government agencies, development organizations, private sector representatives, investment agencies, financial institutions, consulting firms, and professional service providers.