Saudi Gazette report

RIYADH — The Saudi Ministry of Economy and Planning and the Ministry of Economy, Industry, and Investment of the Union of the Comoros have signed a memorandum of understanding (MoU) to enhance and diversify economic cooperation between the two nations.

The agreement, signed by Saudi Minister of Economy and Planning Faisal Alibrahim and Comoros Minister of Economy, Industry, and Investment Moustoifa H. Mohamed, establishes a framework for collaboration based on mutual interests and shared goals.

The MoU outlines key objectives, including the exchange of knowledge to foster stronger economic collaboration and the promotion of communication and cooperation between government entities and private sector players in both countries.

Additionally, the agreement encourages visits, exchange of information, and events aimed at building stronger connections between individuals, officials, and economic institutions.

A special emphasis is placed on supporting the participation of small and medium-sized enterprises (SMEs) in bilateral economic activities, recognizing their vital role in driving sustainable growth.