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Al-Jasser: Saudi Arabia has Significantly Enhanced its Logistical Capabilities

The Supply Chain and Logistics Conference 2024 was held at the Hilton Granada Hotel in Riyadh. SPA
The Supply Chain and Logistics Conference 2024 was held at the Hilton Granada Hotel in Riyadh. SPA
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Al-Jasser: Saudi Arabia has Significantly Enhanced its Logistical Capabilities

The Supply Chain and Logistics Conference 2024 was held at the Hilton Granada Hotel in Riyadh. SPA
The Supply Chain and Logistics Conference 2024 was held at the Hilton Granada Hotel in Riyadh. SPA

Saudi Minister of Transport and Logistic Services Eng. Saleh Al-Jasser said on Sunday that the Kingdom has significantly enhanced its logistical capabilities, bolstering the national economy.

Al-Jasser spoke at the Supply Chain and Logistics Conference 2024, which he inaugurated at the Hilton Granada Hotel in Riyadh. The event was attended by ministers, senior officials, executives from supply chain and logistics companies, and representatives from global and local organizations, alongside leaders of prominent public and private sector entities.

In his opening remarks, he said: “The sixth edition of the conference comes amidst the remarkable growth and prosperity witnessed by the Kingdom’s logistics and supply chain sectors.”

He said the progress is a direct result of the unwavering support provided by the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, and Prince Mohammed bin Salman, Crown Prince and Prime Minister.

The minister highlighted the Kingdom's continued advancements in international rankings for container handling in 2024. He noted that Saudi ports gained 231.7 additional points in the maritime network connectivity index published by UNCTAD and added 30 new shipping lines since the start of 2024, underscoring Saudi Arabia’s vital role in facilitating global trade and boosting the logistics sector.

He also emphasized the significance of the Crown Prince’s launch of the Master Plan for Logistics Centers and the Global Supply Chain Resilience Initiative, reflecting the leadership’s strategic focus on this sector.

Al-Jasser pointed out that, thanks to this support, Saudi Arabia has significantly enhanced its logistical capabilities, which has bolstered the national economy. Global companies have shown increased interest in the Kingdom’s logistics sector, leading to the establishment of 18 logistics zones in ports with investments exceeding SAR 10 billion.

He reiterated the Kingdom's commitment to further enhancing its logistical capabilities, facilitating exports, supporting supply chains, and advancing its performance in global logistics indices.

He outlined efforts to enhance maritime routes, expand air freight, increase rail freight, and activate logistics centers to support sustainable development, solidifying Saudi Arabia's position as a global logistics hub and a critical link in international supply chains.

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UAE, Malaysia Sign Comprehensive Economic Partnership Agreement

The agreement is designed to accelerate bilateral trade, promote private sector collaboration, and create new opportunities for investment in high-growth sectors. WAM
The agreement is designed to accelerate bilateral trade, promote private sector collaboration, and create new opportunities for investment in high-growth sectors. WAM
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UAE, Malaysia Sign Comprehensive Economic Partnership Agreement

The agreement is designed to accelerate bilateral trade, promote private sector collaboration, and create new opportunities for investment in high-growth sectors. WAM
The agreement is designed to accelerate bilateral trade, promote private sector collaboration, and create new opportunities for investment in high-growth sectors. WAM

The United Arab Emirates and Malaysia have signed a Comprehensive Economic Partnership Agreement (CEPA) during a ceremony witnessed by President Sheikh Mohamed bin Zayed Al Nahyan and Malaysian Prime Minister Anwar Ibrahim, Emirates News Agency (WAM) reported Tuesday.

The agreement is designed to accelerate bilateral trade, promote private sector collaboration, and create new opportunities for investment in high-growth sectors, WAM said.

The CEPA was signed at Abu Dhabi National Exhibition Center (ADNEC) by Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, and Malaysia’s Minister of Investment, Trade and Industry Tengku Zafrul Aziz.

Sheikh Mohamed emphasized the significance of the agreement in strengthening the economies of both nations, noting that it is a pivotal milestone in UAE-Malaysia relations.

He remarked that Malaysia, with its fast-growing economy and pro-trade policies, is a vital partner in Southeast Asia. He noted that the agreement aims to deepen cooperation in key sectors, reinforce supply chains, unlock investment potential, and open new doors for the two countries’ private sectors to thrive together.

The UAE-Malaysia CEPA will reduce or eliminate tariffs on a wide range of goods, streamline trade procedures, and enhance market access for service exports. Malaysia, Southeast Asia’s fourth-largest economy, is already one of the UAE’s top trading partners in the ASEAN region, with non-oil bilateral trade reaching $4.9 billion in 2023 and $4 billion in the first nine months of 2024. The UAE is also Malaysia’s second-largest trade partner in the Arab world, accounting for 32% of Malaysia’s trade with Arab nations.

The agreement is projected to solidify the UAE as a strategic hub for Malaysian exports to the Middle East, North Africa, and beyond while opening the ASEAN market to UAE investors and entrepreneurs.

The UAE’s CEPA program is a cornerstone of its efforts to drive non-oil foreign trade to AED 4 trillion ($1.1 trillion) by 2031 and foster international cooperation with strategic markets such as the ASEAN bloc, which boasts a GDP of more than $2.9 trillion and a population of 647 million people.