Financial Sector Conference kicks off Wednesday in Riyadh

JEDDAH: Saudi Arabia is looking to expand its trade and investment links with Mauritania at a high-level forum that kicked off on Monday in the Mauritanian capital Nouakchott.
Business leaders and ministers from both countries are taking part in the Saudi-Mauritanian Economic Forum, jointly organized by the Council of Saudi Chambers and the National Employers Union of Mauritania.
Khadija Mubarak, Mauritania’s commerce, industry and tourism minister, said a series of presentations and special meetings with Mauritanian officials will allow investors to examine opportunities in the northwest African nation.
Mauritanian government policies are encouraging investment in the country, she said, enabling it to rank high in the business climate index.
Several partnership agreements have been signed with African countries and development partners in the EU, as well as free trade pacts to promote trade in the region, Mubarak said.
Dr. Sami bin Abdullah Al-Obaidi, president of the Council of Saudi Chambers, said that the forum will open new horizons for business owners by increasing trade volume and expanding the economic partnership between the two countries.
“It also aims to enable officials and business owners in both countries to exploit economic potential, natural resources, and multiple investment opportunities in the Kingdom and Mauritania,” he said.
Al-Obaidi said that the Kingdom is working to strengthen trade relations with countries that have a healthy economic outlook.
“Mauritania has a strong and diverse economy,” he said.
Mohammed Ould Cheikh Ali Ahmed, head of the National Employers Union of Mauritania, said the forum reflects the keenness of the political leadership in both countries to “consolidate the ties of brotherhood and friendship.”
“The forum comes at a time when Mauritania is witnessing investment-stimulating developments in terms of security, stability, great economic potential and promising investment opportunities, enabling it to become a preferred destination for international investments and for major international companies in the areas of energy, metals, agriculture, fishing and animal development,” he said.
Mauritanian Prime Minister Mohamed Ould Salem Ould Al-Bashir welcomed a delegation of Saudi business owners who will meet with ministers, officials and investors to discuss trade and investment partnerships between the two countries.