tag

Saudi Arabia and Pakistan agreed to launch an Economic Cooperation Framework and affirmed mutual desire to strengthen trade and investment relations to serve their common interests.In a joint statement released today, the Saudi Crown Prince and Prime Minister Prince Mohammed bin Salman bin Abdulaziz Al Saud and Pakistani Prime Minister Muhammad Shehbaz Sharif agreed during their meeting held in Riyadh yesterday (Monday) to launch an Economic Cooperation Framework between the two countries.As part of the framework, the statement said, several strategic and high-impact projects will be discussed in the economic, trade, investment, and development fields that will contribute to strengthening cooperation between the two governments, enhancing the pivotal role of the private sector, and increasing trade exchange between the two countries.Priority sectors include energy, industry, mining, information technology, tourism, agriculture, and food security.Both sides are currently studying several joint economic projects, including signing a memorandum of understanding for the electricity interconnection project between the Kingdom and Pakistan, in addition to signing a memorandum of understanding for cooperation in the field of energy between the two nations.This framework reaffirms the two countries' shared vision toward building a sustainable partnership across various economic, trade, and investment fields.

The summit between Russian President Vladimir Putin and US President Donald Trump will take place, but will likely be postponed to a later date, said Kirill Dmitriev, head of the Russian Direct Investment Fund and the Russian president's special envoy for investment and economic cooperation with foreign countries.In an interview with CNN, Dmitriev, who is visiting the US, said that the meeting between Putin and Trump had not been canceled, as the US president described it, and that the two leaders will likely meet at a later date."I believe Russia and the US and Ukraine are actually quite close to a diplomatic solution," the Russian envoy said.Last week, US President Donald Trump announced that he would meet with his Russian counterpart, Vladimir Putin, in Hungary to try to end the war in Ukraine, before later announcing the cancellation of the summit.

The State of Qatar participated in the 124th meeting of the Financial and Economic Cooperation Committee of the GCC countries, held in the capital of the State of Kuwait. His Excellency Minister of Finance Ali bin Ahmed Al Kuwari led the State of Qatar's delegation participating in the meeting. During the meeting, approval was granted for the outcomes of the 85th meeting of the Committee of Central Bank Governors, the outcomes of the meetings of the Customs Union Authority, and the 15th meeting of the Committee of Tax Administrations. In addition, discussions were held regarding the development of a comprehensive electronic system to serve all types of indirect taxes. The meeting also addressed the latest developments in the negotiations of free trade agreements between the GCC countries and other nations and international blocs, as well as the programme for achieving economic unity among GCC member states by the year 2025. This was alongside a number of topics of mutual interest to the GCC states aimed at achieving economic integration and enhancing innovation and economic resilience in the face of common challenges.