Saudi Arabia poised to elevate US AI infrastructure, Alat CEO says

Saudi Arabia poised to elevate US AI infrastructure, Alat CEO says
Saudi Arabia poised to elevate US AI infrastructure, Alat CEO says

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Jeddah - Yasmine El Tohamy - RIYADH: Saudi Arabia has approved economic and energy deals with several countries including Jordan, Brazil, and Japan, during its latest Cabinet meeting.

An agreement between the central banks of the Kingdom and Qatar focusing on cooperation in financing operations was also among the deals endorsed.

The meeting also approved various agreements between the Saudi government and other countries, including Oman, Georgia, and Morocco. 

The Council of Ministers discussed updates on the Kingdom’s cooperation with various countries worldwide, focusing on efforts to enhance bilateral and collective work across multiple fields. 

Among them were agreements reached between the Kingdom and both Uzbekistan and Azerbaijan in the field of energy.

These accords reflect a commitment to the sustainability and stability of petroleum markets. They also aim to advance cooperation in clean energy sectors, contributing to a globally organized energy transition. Additionally, they seek to build a more sustainable future for the three countries and the world. 

In his statement to the Saudi Press Agency following the session, Minister of Media Salman Al-Dosari highlighted the Council’s appreciation for the results of the recent Arab conferences in Riyadh focused on environmental matters.  

He added that the Cabinet stressed the Kingdom’s keenness to partner with regional and global entities to bolster agriculture, food security, and water resources, aligning with the country’s sustainable development goals. 

During the session, the Council of Ministers cleared various agreements including an energy cooperation deal between Saudi Arabia and Jordan, as well as a memorandum of understanding between the Saudi Ministry of Energy and Brazil’s Ministry of Mines and Energy.

The Cabinet also endorsed two cooperation pacts between the Saudi Ministry of Industry and Mineral Resources and both Morocco’s Ministry of Energy Transition and Sustainable Development, and Japan’s Ministry of Economy, Trade and Industry. These pacts relate to the fields of mineral wealth, mining, and mineral resources. 

Moreover, it cleared the Kingdom’s accession to the Geneva Act of the Hague Agreement concerning the international registration of industrial designs. 

Additionally, the Cabinet approved the implementation of a decision made by the Gulf Cooperation Council states’ Financial and Economic Cooperation Committee regarding the final draft for exempting industrial inputs from fees. This decision was made during the committee’s 120th meeting, held in October 2023 in the Omani capital, Muscat. 

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I am Jeff King and I’m passionate about business and finance news with over 4 years in the industry starting as a writer working my way up into senior positions. I am the driving force behind Al-KhaleejToday.NET with a vision to broaden the company’s readership throughout 2016. I am an editor and reporter of “Financial” category. Address: 383 576 Gladwell Street Longview, TX 75604, USA Phone: (+1) 903-247-0907 Email: [email protected]