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Saudi Arabia and Djibouti sign commercial and investment program

Riyadh, Dr. Majid bin Abdullah Al-Gasabi, Minister of Commerce and Investment, who is also Chairman of the Board of Directors of the General Commission for Foreign Trade, and Hasan Hamad Ibrahim, Minister of Trade of the Republic of Djibouti, co-signed in Riyadh today a cooperation program between the Kingdom of Saudi Arabia and the Republic of Djibouti aiming at enhancing and promoting commercial and investment exchanges.

The event was attended by a number of senior officials on the two sides.

The two sides confirmed their endeavor to upgrade and diversify trade of goods and services and create appropriate environment for investments, exchange of experiences and information flow in a number of fields as well as opportunities for investments, market research and encouraging of joint activities.

They also affirmed the importance of the participation of the private sector in forums and symposia in the field of developing commercial and investment activities including holding commercial exhibitions in the two countries and marketing of goods and services.

In 2018, the size of trade exchanges between the two countries amounted to $488 million, in favor of the Kingdom, as its exports to Djibouti reached $439 million.

Source: Saudi Press Agency