Riyadh: The Ministry of Economy and Planning of Saudi Arabia and the Ministry of Economy, Trade, and Business of Spain have signed a memorandum of understanding (MoU) to exchange expertise and enhance economic relations between the two countries. The agreement was signed by Faisal Alibrahim, the Saudi Minister of Economy and Planning, and Carlos Cuerpo Caballero, the Spanish Minister of Economy, Trade, and Business.
According to Bahrain News Agency, the agreement outlines various areas of cooperation, including economic modeling and policymaking, support for small and medium-sized enterprises (SMEs) through joint partnerships and programs, and facilitation of joint projects and bilateral participation in economic events.
The MoU further includes the exchange of information and statistics in areas such as industry, technology, and innovation. This collaboration aligns with the goals of sustainable development and Saudi Vision 2030, which seeks to diversify the kingdom's economy and reduce its dependence on oil.