Saudi Arabia’s capital, Riyadh, is gearing up to host the Gulf Cooperation Council’s (GCC) summit next Tuesday. The summit’s final communique will likely fall in line with the positions that were launched in the Gulf tour of Saudi Crown Prince Mohammed bin Salman.
Saudi Crown Prince Mohammad bin Salman’s tour of Oman, UAE, Qatar, Bahrain and Kuwait has culminated in hammering out a host of agreements and memos of understanding aiming at cementing inter-Gulf cooperation in various domains.
In Kuwait, both sides agreed to maximize benefit from electrical interconnection and commercial exchange of electrical energy. They stressed strengthening cooperation in various fields like health, tourism, food security and human development, mainly youth and women’s empowerment sectors, in addition to digital transformation and cybersecurity.
In Muscat, Saudi Arabia and Oman inked 13 memoranda of understanding to launch joint ventures in diverse sectors as well as MOUs signed in the fields of commerce, standardization and joint media fields.
In Doha, both Saudi and Qatari sides agreed, in a joint statement issued at the conclusion of Prince Mohammad’s visit, on enhancing cooperation in various fields including politics, security, defense, economy, etc.
Saudi Arabia and Qatar also agreed to benefit from projects of infrastructural, logistic, energy and business nature, noting that the upcoming FIFA 2022 World Cup would serve as a pedestal to achieve both countries visions for 2030.
In Abu Dhabi, the United Arab Emirates and the Kingdom of Saudi Arabia concurred on strengthening their strategic cooperation and integration in a variety of domains.
Both sides affirmed that bolstering strategic cooperation would create great economic and investment opportunities for the new generations in both countries, according to a joint statement issued Wednesday at the conclusion of Prince Mohammad’s visit to the UAE.
They vowed to further cooperation in various areas, including energy, climate change, health, tourism, food security and social development. On the energy front, the two countries lauded their close cooperation and the successful efforts of OPEC+ alliance to restore stability to the global oil market.
They affirmed the importance of continuing this cooperation, as well as the commitment of the member states of OPEC+ to the agreement, underlining the need for continuing their joint cooperation in the field of oil, gas and petrochemicals, as well as in the peaceful use of nuclear energy and oil products trade.
They agreed on increasing cooperation in electricity trade exchange, artificial intelligence, digital transformation, cybersecurity and advanced technologies.
In Manama, Bahrain and Saudi Arabia signed key agreements, involving a Saudi investment of $5 billion in development projects across Bahrain.
The agreements came, during the second meeting of the Saudi-Bahraini Coordination Council at Sakhir Palace, co-chaired by Bahraini Crown Prince and Prime Minister Salman bin Hamad Al-Khalifa and Prince Mohammad. A feasibility study for establishing a Bahraini-Saudi multi-industry holding company was agreed on during the meeting.
Moreover, both sides discussed cooperation between Bahrain’s Oil and Gas Holding Company and Saudi Aramco, with a focus on the circular economy and hydrogen production technology.
The final statements on the five stops of the tour confirmed the common points agreed upon by the leaders of the six countries to enhance the security and stability of the Gulf region, develop their economies, and achieve Gulf visions.
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