Kuwait city: Kuwait's Public Authority for Industry (PAI) and the Saudi Export Development Authority (SEDA) signed a Memorandum of Understanding (MoU) on Wednesday aimed at jointly promoting the non-oil exports of both countries. The agreement was signed by PAI's acting Director General Shamlan Al-Jeheidli, representing Minister of Commerce and Industry Khalifa Al-Ajeel, and SEDA CEO Abdulrahman Al-Thukair. This signing took place on the sidelines of the Saudi Made Exhibition being held in Riyadh from December 15 to 17.
According to Kuwait News Agency, this collaboration falls within the framework of ongoing efforts by Kuwait and Saudi Arabia to enhance economic and trade cooperation. By focusing on non-oil exports, both countries aim to diversify their economic activities beyond oil, fostering a stronger trade relationship. The agreement signifies a strategic step in strengthening the economic ties between the two nations and promoting sustainable trade practices.