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Riyadh, Madrid to Develop Economic Cooperation, Military Industries

Spanish Ambassador to Asharq Al-Awsat: Joint Committee Scheduled to be Held in Spain on October 20

Spanish Ambassador to Saudi Arabia Jorge Hevia Sierra (Asharq Al-Awsat)
Spanish Ambassador to Saudi Arabia Jorge Hevia Sierra (Asharq Al-Awsat)
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Riyadh, Madrid to Develop Economic Cooperation, Military Industries

Spanish Ambassador to Saudi Arabia Jorge Hevia Sierra (Asharq Al-Awsat)
Spanish Ambassador to Saudi Arabia Jorge Hevia Sierra (Asharq Al-Awsat)

Spanish Ambassador to Saudi Arabia Jorge Hevia Sierra said that his country was seeking to strengthen its strategic partnership with Riyadh, noting that a joint committee was scheduled to be held in Spain on Oct. 20 to review the development of bilateral economic relations.

Speaking to Asharq Al-Awsat, Sierra pointed to the presence of a joint defense committee, which is working on the development of a memorandum of understanding to promote cooperation in this field.

He said that many non-organizational agreements were signed in 2018, including an executive program for cultural cooperation, in addition to a memorandum of understanding on scientific and technological cooperation, and another MOU in the field of labor and social development.

“The joint statement issued on the occasion of the Crown Prince’s visit to Spain in 2018 refers to the strong partnership between our two countries,” Sierra said, stressing that the statement would represent the basis for “advancing our bilateral relations, with a special focus on the contribution that Spain can make in achieving Vision 2030.”

The ambassador emphasized the depth of the special fraternal relationship between the Spanish and Saudi royal families, which in a way frames the good dialogue between the two governments and facilitates the unique nature of the relations between the two cultures.

On areas of cooperation and agreements concluded between the two countries, Sierra said: “Through the General Cooperation Agreement of 2007, our two countries agreed to strengthen friendly relations and historical ties between their citizens, as well as to enhance bilateral cooperation. In this context, a joint committee was established and has met twice so far, in 2014 and 2018.”

He noted that around 80 Spanish companies were present in the Saudi market, covering various sectors, including the military industry, oil and refineries, combined technologies and water infrastructure, construction, infrastructure and consultancy.

Regarding the trade balance, Sierra said that merchandise exports closed last year with an approximate value of 1.9 billion euros (6.9 billion riyals), an increase of nearly 10 percent compared to 2020, while the main exported goods include machinery, mechanical equipment, ceramics and electrical appliances.

Imports, according to the Spanish ambassador, amounted to 2.9 billion euros (10.5 billion riyals), an increase of 30 percent compared to 2020, and covered fuels, in addition to mineral oils, organic chemical products, plastics and their products.

As for the volume of investments, he said that the balance of investments amounted to 483 million euros (1.7 billion riyals) for the year 2020, mainly concentrated in the crude oil and natural gas extraction sector.

The balance of Saudi investments in Spain amounted to 917 million euros (3.3 billion riyals), concentrated mainly in the sectors of oil refining, air transport, and real estate activities.

The ambassador highlighted the Saudi-Spanish cooperation in the military industry, noting that the Kingdom was a strategic partner in the region, as about 30 Spanish companies participated in the last edition of the World Defense Exhibition in Riyadh.

Spanish companies are interested in long-term partnerships in the Saudi market, which is evident through the establishment of joint ventures between SAMI and Airbus, he stated.

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FAO Official: Gulf States Shielded Themselves from Major Shocks

David Laborde, Director of the Agrifood Economics Division at the UN's Food and Agriculture Organization (FAO)
David Laborde, Director of the Agrifood Economics Division at the UN's Food and Agriculture Organization (FAO)
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FAO Official: Gulf States Shielded Themselves from Major Shocks

David Laborde, Director of the Agrifood Economics Division at the UN's Food and Agriculture Organization (FAO)
David Laborde, Director of the Agrifood Economics Division at the UN's Food and Agriculture Organization (FAO)

David Laborde, Director of the Agrifood Economics Division at the UN's Food and Agriculture Organization (FAO), told Asharq al-Awsat that global hunger increased sharply during the coronavirus pandemic, noting that the GCC countries were able to shield themselves from major shocks affecting food security.
Laborde added that global hunger affected over 152 million people, with no improvement in the past two years.
Today, 733 million people suffer from chronic hunger, and 2.3 billion face food insecurity, according to the UN annual report on “The State of Food Security and Nutrition in the World.”

Laborde explained that the global economic crisis has worsened food insecurity, keeping hunger levels high.
Alongside this, climate shocks and conflicts are major causes of hunger. He also pointed out that food insecurity is closely tied to inequality, and the economic crisis, rising living costs, and high interest rates are deepening existing inequalities both within and between countries.
On whether economic diversification in Gulf Cooperation Council (GCC) countries is boosting food security, Laborde said: “A move towards a more diversified economy and enhancing the ability to rely on various sources of food supplies are key drivers of food security resilience and stability.”
“GCC countries have managed to shield themselves from major shocks, primarily due to their high income levels and ability to cover import costs without difficulty,” he explained.
Regarding the FAO’s outlook on reducing global hunger, Laborde insisted that ending hunger will require a significant increase in funding.
When asked for suggestions on how governments could enhance food security, Laborde said: “Despite global figures remaining stable, improvements are seen in Asia and Latin America, showing that the right policies and conditions can reduce numbers.”
“Hunger is not inevitable. Investing in social safety nets to protect the poor, along with making structural changes to food systems to be more environmentally friendly, resilient, and equitable, is the right path forward,” emphasized Laborde.
The annual State of Food Security and Nutrition in the World report, published on Wednesday, said about 733 million people faced hunger in 2023 – one in 11 people globally and one in five in Africa.
Hunger and food insecurity present critical challenges affecting millions globally.
The annual report, released this year during the G20 Global Alliance for Hunger and Poverty Task Force ministerial meeting in Brazil, warns that the world is significantly lagging in achieving Sustainable Development Goal 2—ending hunger by 2030.
It highlights that global progress has regressed by 15 years, with malnutrition levels comparable to those seen in 2008-2009.
Despite some progress in areas like stunting and exclusive breastfeeding, a troubling number of people still face food insecurity and malnutrition, with global hunger levels rising.