Countries to work together closer than ever before on common economic, knowledge and political projects
\nMonitoring desk
\nJeddah
\nThe UAE and Saudi Arabia announced on Tuesday a joint vision for economic, developmental and military integration through 44 joint strategic projects.
\nA total of 350 government officials from different fields prepared \u201cThe Strategy of Resolve\u201d within 12 months. The strategy outlines three main axes: the economic axis, the human and knowledge axis, and the political, security and military axis.
\nThe announcement of the strategy came during the first meeting of the Saudi-Emirati Coordination Council, chaired by His Highness Shaikh Mohammad Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and His Highness Prince Mohammad Bin Salman Al Saud, Crown Prince, Deputy Prime Minister and Minister of Defence, Chairman of the Council for Economic Affairs and Development.
\nThe leaders of the two countries have set a timeframe of 60 months to implement the strategic projects aimed at building an exceptional model between UAE and Saudi Arabia which supports the works of the Gulf Cooperation Council. The strategy also protects the interests of both countries and creates new opportunities for them both.
\nDuring the meeting, a number of joint projects were announced, including a unified strategy for food security, a unified plan for medical stocks, a common supply security system and joint investment in oil, gas and petrochemicals.
\nThe Strategy of Resolve also includes a plan to establish an agricultural investment company with a capital of Dh5 billion, a joint venture fund for renewable energy and a third investment fund for small and medium enterprises. The strategy will also facilitate the flow of traffic in ports, build a unified industrial database, empower the banking sector in both countries, harmonize economic procedures and legislations and create a joint council to coordinate foreign investments.
\nThe areas of cooperation identified by the Strategy of Resolve also include security and military cooperation and integration, coordination of foreign military assistance and standardisation in the military industry sector.
\nThe two sides will work during the coming period on activating the joint manufacturing industries, implementing the electric linkage project, launching joint housing and financing services and solutions, establishing a joint centre for the development of desalination technologies, cooperation in the management of infrastructure projects, and cooperate in the development of modern financial technology techniques.
\nThe first meeting of the Joint Coordination Council witnessed the signing of 20 memorandums of understanding to enhance the Saudi-UAE cooperation in various fields. A number of strategic projects were launched, and the structure of the Council was announced. The Council will follow up the implementation of projects within the set timeframe.
\nAttending the meeting were Shaikh Tahnoun Bin Zayed Al Nahyan, National Security Adviser, Shaikh Mansour Bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, Shaikh Abdullah Bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, Shaikh Zayed Bin Hamdan Bin Zayed Al Nahyan, Shaikh Shakhbout Bin Nahyan Al Nahyan, UAE Ambassador to Saudi Arabia and a number of ministers.
\nShaikh Mohammed Bin Zayed Al Nahyan said: \u201cThe UAE and Saudi Arabia have strategic relations based on solid foundations of unity, joint vision, objectives and cooperation under the blessings of His Highness Shaikh Khalifa Bin Zayed Al Nahyan, and the Custodian of the Two Holy Mosques His Royal Highness King Salman Bin Abdul Aziz Al Saud, King of Saudi Arabia.
\n\u201cOur meeting today is a continuation of our brotherly and strong relations.\u201d
\nShaikh Mohammad Bin Zayed also added that Saudi-Emirati Coordination Council supports the objectives of the GCC under the leadership of Saudi Arabia.
\n\u201cWe have a historic opportunity to create an exceptional Arab model of cooperation. Our solidarity and unity protect our interest, strengthen our economies and build a better future for our peoples,\u201d Shaikh Mohammad Bin Zayed said.
\n\u201cWe are the two largest Arab economies, forming the two most modern armed forces. The economies of Saudi Arabia and the UAE represent a gross domestic product of one trillion dollars, our joint exports rank fourth globally and amount to $750 billion, plus Dh150 billion annually invested in infrastructure projects, which generates huge opportunities for bilateral cooperation.\u201d
\nThe first meeting of the Saudi-Emirati Coordination Council comes within the framework of cooperation between Saudi Arabia and the UAE to consolidate brotherly relations and their desire to intensify bilateral cooperation and integration through continuous consultation and coordination in various fields.
\nBased on the directives of President His Highness Shaikh Khalifa Bin Zayed Al Nahyan, and Custodian of the Two Holy Mosques King Salman Bin Abdul Aziz Al Saud, the Saudi-Emirati Coordination Council was established in May 2016 to achieve the common objectives of both countries and enhance the work of the GCC.
\nThe Strategy of Resolve was adopted during the meeting of the Saudi-Emirati Coordination Council as one of the main outputs of the council. The council set a timeframe of five years to implement the projects outlined in the strategy.
\nThe strategy aims to create an exceptional model of integration and cooperation between the two countries through the implementation of joint strategic projects for the happiness and prosperity of the people of the two countries. The strategy comprises three main axes: economic, human and knowledge, political, security and military, as well as 44 joint projects out of 175 total initiatives.
\nOn the sidelines of the first meeting of the Saudi-Emirati Coordination Council, the UAE signed 20 memorandums of understanding with Saudi Arabia to tackle areas of priorities and kick-start the implementation phase. The projects represent a new phase in cooperation between the UAE and Saudi Arabia.<\/p>\n","protected":false},"excerpt":{"rendered":"
Countries to work together closer than ever before on common economic, knowledge and political projects Monitoring desk Jeddah The UAE and Saudi Arabia announced on Tuesday a joint vision for economic, developmental and military integration through 44 joint strategic projects. A total of 350 government officials from different fields prepared \u201cThe Strategy of Resolve\u201d within […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":{"0":"post-27252","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-world"},"yoast_head":"\n