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Djibouti signs commercial program with Saudi

Djibouti Government has signed commercial and investment agreement with Saudi Arabia on Saturday following discussion between trade minister both countries in Saudi capital, Riyadh.

In a ceremony, Djibouti commerce minister, Hasan Hamad Ibrahim and his Saudi counterpart, Dr. Majid bin Abdullah Al-Gasabi inked a cooperation program between Saudi Arabia and Djibouti aiming at enhancing and promoting commercial and investment exchanges.

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

According to Saudi News Agency, the two sides confirmed their endeavor to upgrade and diversify trade of goods and services.

The countries also agreed to 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.

Both minister 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.

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