Saudi Arabia, Niger sign accords to enhance economic cooperation

RIYADH: Saudi Arabia has signed an agreement with Niger to enhance economic cooperation between the two countries.

The accord, comprising seven articles, was signed in Niger between the Council of Saudi Chambers (CSC) and the Niger Chamber of Commerce to promote trade and investments between the countries.
On behalf of the Kingdom, CSC Vice Chairman Shuwaimi Al-Kattab signed the deal, while Niger’s Chamber of Commerce President Moussa Sidi Mohammed signed for his country.
Al-Kattab said the Kingdom wants to enhance its economic relations with the African continent, particularly with Niger, the largest country in West Africa, due to its vast opportunities, especially in the oil, petrochemical, mining, agriculture and livestock sectors.
The agreement aims at boosting trade and investments between the Saudi and Nigerian business sectors through exchanging economic information pertaining to their markets, production, trade opportunities and partnership.
Both parties will offer suggestions on ways to improve economic cooperation.
The cooperation agreement entails that CSC and Niger’s Chamber of Commerce exchange information on regular basis concerning trade and investment opportunities to open new horizons.
Aside from exchanging business delegations, the parties will stage exhibitions and forums to introduce their respective products, provide business publications and catalogs on the latest developments and regulations in both countries and assist businesspeople in trade disputes in accordance with approved international standards and agreements.
The CSC and the Niger Chamber of Commerce will dedicate their efforts to promote investment opportunities and joint ventures in both countries.
During the visit of Niger President Mahamadou Issoufou to the Kingdom, three bilateral agreements and a memorandum of understanding were signed Sunday between the Kingdom and Niger in Riyadh. A security agreement was signed by Deputy Minister of Interior Abdul Rahman Al-Rubaian on the Saudi side and Niger’s Minister of National Defense Kalla Moutari.
Also signed were an agreement for the building and equipping of primary schools in all regions of Niger, a draft agreement on the Kandadji Dam project and a memorandum of understanding for the fifth phase of a Saudi program for digging wells and rural development. The agreements were signed by the deputy chairman of the Saudi Fund for Development, Yousef bin Ibrahim Al-Bassam, and Niger’s Minister of Planning Kane Aichatou Boulama.
King Salman decorated President Issoufou with the King Abdulaziz Medal during the visit.

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