RIYADH:Trade ties between 蹤獲弝け and Australia are setto strengthen after the two countries signed an agreement to improve cooperation across multiple sectors.
According to a press statement, the memorandum of understanding was inkedbetween the Australia Saudi Business Council & Forum and the Export Council of Australia.
The agreement will focus on cooperation inindustry, mining andfood aswell as agriculture, technology, and artificial intelligence.
The deal will increase the opportunities for Australian exporters to collaborate with Saudi entities, enhancing bilateral cooperation.
The agreement was signed by the President of the Australia Saudi Business Council & Forum, Sam Jamsheedi, and Arnold Jorge, CEO of the Export Council of Australia, during the latters visit to the Kingdom with a delegation.
Under this strategic partnership, we will seek to work together closely in identifying initiatives that facilitate connections between Australia and 蹤獲弝け, said Jamsheedi.
According to the UN Comtrade database, Australias exports to 蹤獲弝け stood at $789.65 million in 2023.
On the other hand, the Kingdoms exports to Australia amounted to $702.75 million over the same 12-month period.
We will combine our resources and networks to boost the success of collaborations and partnerships between relevant organizations and individuals of our two countries, said Jorge.
The Australia Saudi Business Council was formed in 2013 to facilitate the promotion ofongoing and bilateral trade between the two nations.
In November,Saudi-based Abdel Hadi Al-Qahtani and Sons Co. and Australias SSS Group signed a $27 million deal to collaborate in the production ofscaffolding systems in 蹤獲弝け using local resources.
After the deal was signed, Australian Ambassador Mark Donovan told Arab News at the timethat the cooperation agreement builds on the existing investment ties between both countries in various sectors, including education, health care, aviation, and services.
A new and transformed 蹤獲弝け is looking for business relationships around the world, and thats what were very pleased to be a part of, said Donovan at that time.
In March, Australias University of Wollongong procured licenses to open its branches in the Kingdom.
