H.E. The Chairman of the Board of the Arab Authority for Agricultural Investment and Development Discusses Future Cooperation in the Kingdom of Saudi Arabia and Signs a[...]

H.E. The Chairman of the Board of the Arab Authority for Agricultural Investment and Development Discusses Future Cooperation in the Kingdom of Saudi Arabia and Signs a Memorandum of Understanding with the Arab Bank for Economic Development in Africa

Date: 21 Aug, 2024

As part of the Arab Authority's efforts to develop its agricultural investments in the Kingdom of Saudi Arabia and to explore future cooperation in agricultural projects and investments that serve mutual interests, H.E. Dr. Obaid Saif Hamad Al-Zaabi, The Chairman of the Board of AAAID, accompanied by a delegation from the Authority, visited the Kingdom of Saudi Arabia from August 18 to 19, 2024. During the visit, they met with several Saudi government officials and leading agricultural investors.

During the visit, H.E. Dr. Obaid Saif Hamad Al-Zaabi and the accompanying delegation met with H.E. Eng. Abdulrahman Abdulmohsen AlFadley, The Minister of Environment, Water & Agriculture of Saudi Arabia. They discussed and reviewed the current situation and prospects for cooperation between AAAID and the Ministry of Environment, Water & Agriculture in Saudi Arabia, with the aim of enhancing food security.

H.E. The Chairman of the Board of AAAID and the accompanying delegation also met with H.E. Mr. Munir bin Fahd Al-Sahli, CEO of the Agricultural Development Fund. During the meeting, they explored areas of cooperation between AAAID and the Agricultural Fund to support and enhance joint efforts aimed at developing the agricultural sector.

It is worth noting that these meetings affirm the commitment to strengthen the joint cooperation between AAAID and the Kingdom in the fields of agriculture and sustainable development. These discussions will open new horizons for exchanging experiences and developing joint projects that contribute to achieving food security and supporting economic development in the region. This visit is also a strategic step towards enhancing Arab integration in the fields of environment, agriculture, and water, benefiting the peoples of the region.

Additionally, during the visit to the Kingdom of Saudi Arabia, a Memorandum of Understanding (MoU) was signed between AAAID and the Arab Bank for Economic Development in Africa (BADEA). The MoU was signed by H.E. Dr. Obaid Saif Hamad Al-Zaabi on behalf of AAAID, and by H.E. Dr. Sidi Ould Tah, President of BADEA. The MoU aims to establish a general framework for cooperation between the two parties in common areas, including providing agricultural project inputs from African sources to Arab countries and facilitating the export and import processes of food and agricultural products between the two parties. The MoU grants the BADEA priority in dealing with companies in which AAAID holds capital in Arab countries. It also seeks to crystallize opportunities for mutual cooperation, exchange best practices, and technical knowledge. Additionally, it includes cooperation in promoting and presenting agricultural products and services through joint events.