UAE and Saudi Arabia sign MoU to boost rail connectivity and infrastructure integration
The MoU sets out general principles for rail connectivity between the two countries
Riyadh: Mohamed Hassan Alsuwaidi, UAE Minister of Investment, and Prince Abdulaziz bin Salman bin Abdulaziz Minister of Energy and Minister of Industry and Mineral Resources, on Thursday signed a Memorandum of Understanding (MoU) in Riyadh aimed at strengthening strategic cooperation between the UAE and Saudi Arabia.
The MoU seeks to develop rail connectivity between the two countries, facilitate the movement of goods and cargo, and enhance opportunities for infrastructure and energy-sector integration, supporting shared economic interests.
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The MoU sets out general principles for rail connectivity between the two countries and provides for technical and economic studies to support logistics integration, improve supply-chain efficiency, facilitate cross-border trade and transport, and advance economic development and regional integration.
As part of efforts to strengthen infrastructure integration, the MoU also covers cooperation in electricity interconnection and the exchange and sale of electricity. It includes technical, economic and environmental feasibility studies to assess interconnection opportunities, as well as coordination with GCC member states on expanding the Gulf electricity interconnection system, supporting energy-system efficiency and enhancing regional connectivity.
