Saudi Arabia and the UAE signed a memorandum of understanding (MoU) in Riyadh on Thursday to strengthen strategic cooperation to advance railway connectivity between the two countries.

The MoU was signed by Mohamed Hassan Alsuwaidi, UAE Minister of Investment, and His Royal Highness Prince Abdulaziz bin Salman bin Abdulaziz Al Saud, Minister of Energy and Minister of Industry and Mineral Resources.

The MoU aims to facilitate the movement of goods and freight, and enhance opportunities for infrastructure and energy sector integration in support of shared economic interests.

The MoU establishes the general principles for railway connectivity between the two countries and provides for relevant technical and economic studies. This cooperation aims to strengthen logistics integration, improve supply chain efficiency, facilitate cross-border trade and transport, and support economic development and regional integration.

As part of broader efforts to strengthen infrastructure integration between the two countries, the MoU also encompasses cooperation on electricity interconnection, including the exchange and sale of electricity, as well as technical, economic and environmental feasibility studies to assess interconnection opportunities. 

It further provides for coordination with member states of the Gulf Cooperation Council (GCC) regarding the expansion of the GCC electricity interconnection network, supporting greater energy system efficiency and enhanced regional connectivity. -TradeArabia News Service