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SAUDI EXPORTS, Alibaba Sign MoU to Enhance Saudi Products Access to Global Markets

The Saudi flag. Asharq Al-Awsat
The Saudi flag. Asharq Al-Awsat
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SAUDI EXPORTS, Alibaba Sign MoU to Enhance Saudi Products Access to Global Markets

The Saudi flag. Asharq Al-Awsat
The Saudi flag. Asharq Al-Awsat

The Saudi Export Development Authority (SAUDI EXPORTS) has signed a memorandum of understanding (MoU) with Alibaba, aiming to facilitate the global market access for Saudi products.
The MoU seeks to enhance the visibility of Saudi products on the Alibaba platform and provide improved opportunities for these products to reach a wider audience of global customers.
The agreement aims to bolster Saudi exports by ensuring greater accessibility of these products to customers in international markets.
As part of the MoU, a dedicated section will be created on Alibaba's platform specifically for Saudi companies that are registered with them, making it more convenient for purchasers seeking Saudi items.
The MoU was signed during the China-GCC Countries Forum on Industrial and Investment Cooperation, which was held in Xiamen on May 23-24. The Minister of Investment and head of the Saudi delegation, Eng. Khalid Al-Falih, attended the event and participated in the signing.

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Saudi Energy, Bpifrance Sign Cooperation Agreement for Project Financing

Saudi Energy, Bpifrance Sign Cooperation Agreement for Project Financing
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Saudi Energy, Bpifrance Sign Cooperation Agreement for Project Financing

Saudi Energy, Bpifrance Sign Cooperation Agreement for Project Financing

Saudi Energy signed on Monday a cooperation agreement with the French public investment bank Bpifrance on project financing on the sidelines of Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister’s state visit to France.

The agreement, signed during the Saudi-French Investment Roundtable Meeting, focuses on financing Saudi Energy’s projects to develop and expand the power grid. It aims to provide competitive financing solutions for the company’s procurement activities and projects.

It builds on a memorandum of understanding signed by the two sides in November 2025, which established a framework for procurement financing facilities to support Saudi Energy’s purchasing program and help diversify funding sources for its strategic projects.

The cooperation mechanism also involves BNP Paribas and HSBC as coordinators of the financing process, with efforts to broaden the pool of international lenders. This is intended to diversify liquidity sources and enhance financing flexibility for future projects.

The agreement reflects Saudi Energy’s efforts to leverage international financing instruments to support its projects, including power infrastructure projects, strengthen grid reliability and stability, and improve project execution efficiency.

It underscores the continued expansion of cooperation between Saudi and French entities and the development of partnerships across various sectors as part of efforts to strengthen strategic ties between the two countries.

Business

RSGT, CMA CGM Sign SAR1.6 Billion Agreement to Develop Jeddah Islamic Port Terminal

RSGT, CMA CGM Sign SAR1.6 Billion Agreement to Develop Jeddah Islamic Port Terminal
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RSGT, CMA CGM Sign SAR1.6 Billion Agreement to Develop Jeddah Islamic Port Terminal

RSGT, CMA CGM Sign SAR1.6 Billion Agreement to Develop Jeddah Islamic Port Terminal

The Saudi Ports Authority (Mawani) announced the signing of an agreement between Red Sea Gateway Terminal (RSGT) and French shipping group CMA CGM to develop and operate the fourth container terminal at Jeddah Islamic Port, with an investment of approximately SAR1.6 billion.

The agreement was signed on the sidelines of the Saudi-French Investment Roundtable Meeting in the presence of Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, and French President Emmanuel Macron, reflecting the port’s strategic position and growing role in global trade.

The agreement builds on the strategic partnership between Mawani, RSGT, and CMA CGM, and reflects the growing partnerships with leading global companies to develop Saudi ports’ capabilities, support the growth of the maritime and logistics sector, and strengthen the Kingdom of Saudi Arabia’s connectivity to global trade networks.

The project aims to develop and operate the fourth container terminal with an annual capacity of approximately 2.6 million twenty-foot equivalent units (TEUs) under RSGT’s existing concession agreement, further bolstering Jeddah Islamic Port’s operational capacity to accommodate growth in trade volumes.

The project will also boost Jeddah Islamic Port’s ability to attract global shipping lines and services, increase cargo flows, and expand its connectivity with international markets, leveraging its strategic location on the Red Sea and maritime trade routes linking Asia, Europe, and Africa. This will support the smooth flow of exports and imports and enhance the efficiency and resilience of supply chains.

Business

Trump Issues New Threats to Canada Over Trade

JOINT BASE ANDREWS, MARYLAND - AUGUST 21: US President Donald Trump speaks with reporters before boarding Air Force One on August 21, 2026 in Joint Base Andrews, Maryland. Win McNamee/Getty Images/AFP
JOINT BASE ANDREWS, MARYLAND - AUGUST 21: US President Donald Trump speaks with reporters before boarding Air Force One on August 21, 2026 in Joint Base Andrews, Maryland. Win McNamee/Getty Images/AFP
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Trump Issues New Threats to Canada Over Trade

JOINT BASE ANDREWS, MARYLAND - AUGUST 21: US President Donald Trump speaks with reporters before boarding Air Force One on August 21, 2026 in Joint Base Andrews, Maryland. Win McNamee/Getty Images/AFP
JOINT BASE ANDREWS, MARYLAND - AUGUST 21: US President Donald Trump speaks with reporters before boarding Air Force One on August 21, 2026 in Joint Base Andrews, Maryland. Win McNamee/Getty Images/AFP

Trump threatened Monday to impose a 50% tariff on Canadian automobiles, car parts and steel starting next year as the trade rift with Ottawa deepens.

Trade talks between the otherwise allies and reliable trading partners collapsed last week. Long-planned US tariffs on various Canadian goods went into effect after the talks broke off, and Canada has vowed to retaliate.

“Canada has been ripping off the United States of America for years,” Trump posted on social media Monday morning. Criticizing Canada’s “ridiculously high tariffs” on American farmers, Trump wrote: “Not sustainable, and NOT ANYMORE!”

Ontario Premier Doug Ford said Monday that Ronald Reagan would be “throwing up” over President Donald Trump’s trade policies and threatened to cut off electricity and critical minerals to the United States.

Ford, speaking in an interview with The Associated Press, said Trump has underestimated Canadians’ willingness to endure economic pain rather than give in to US pressure.

“He underestimates Canada. We’re all in,” Ford said. “Up here, we’re at a fever pitch, everyone’s in for an economic war. They know they’re going to have to sacrifice.”