Kuwaiti oil official: MoU with Saudi Arabia to boost cooperation

By Khaled Al-Shemmari RIYADH, Nov 11 (KUNA) -- The Undersecretary of the Kuwaiti Ministry of Oil, Dr. Sheikh Nimr Fahad Al-Sabah, affirmed on Tuesday that the memorandum of understanding (MoU) signed with Saudi Arabia represents an important step that will bring mutual benefits to the economies and planning sectors of both countries.
Sheikh Nimr, who also serves as Chairman of the Coordination Committee for Energy, Economy, Trade and Industry under the Kuwait-Saudi Coordination Council, told Kuwait News Agency (KUNA) that the MoU, signed on Monday, aims to promote cooperation in medium- and long-term planning, noting that both countries possess significant expertise and qualified cadres whose collaboration will lead to major progress benefiting both nations.
The MoU also covers cooperation in economic studies, modeling, economic policies, governance of economic plans, economic knowledge and media, leadership development, and the fields of green, circular, and digital economies, he added.
Furthermore, Dr. Al-Sabah stated that the memorandum includes joint efforts to achieve the Sustainable Development Goals (SDGs).
He explained that the cooperation will be implemented through exchange of expertise, information, studies, and expert visits, in addition to organizing workshops and seminars.
Sheikh Nimer affirmed that Kuwait has invited Saudi counterparts serving on the Coordination Committee for Energy, Economy, Trade and Industry to attend the committee's upcoming meeting, scheduled to be held in Kuwait on December 2. (end) kns.aa