May 26, 2024
PRESS RELEASES GCC Saudi Arabia

Saudi Arabia Signs MoU to Promote Peace and Stability

Saudi Arabia has always been at the forefront of promoting peace and stability in the Middle East and the world. The Kingdom has taken this commitment to peace a step further by signing a Memorandum of Understanding (MoU) with Chad. The MoU is expected to symbolize a defence cooperation between both countries. It is also expected to strengthen bilateral relations to promote international peace and stability.

The MoU was signed by Dr. Khaled bin Hussein Al-Bayari, Saudi Arabia’s Assistant Minister of Defence for Executive Affairs, and Mahammat Saleh Annadif, Chad’s Minister of State for Foreign Affairs, Chadians Abroad and African Integration during a ceremony held at Riyadh. The agreement covers numerous fields directed at enhancing stability.

These fields include cooperation regarding military training and exercises, raising awareness on combating terrorism, and providing military medical services.

Saudi Arabia’s Commitment to International Peace

In recent years, Saudi Arabia has demonstrated its unwavering commitment to promoting international peace, security, and stability. Apart from the MoU it recently signed with Chad, the Kingdom consistently announced that it was prepared to support efforts to consolidate the truce in Yemen. Late last year, Prince Faisal bin Farhan, the Kingdom’s Minister of Foreign Affairs, also called for Iran to fulfil its commitment to the nuclear program and to cooperate with the International Atomic Energy Agency (IAEA) to boost international peace.

Last year, Saudi Arabia also contributed $27 million to the UN Relief and Works Agency for Palestine Refugees in the Near East (UNRWA). According to Philipe Lazzarini, Saudi Arabia’s contribution demonstrated the Kingdom’s longstanding solidarity with the Palestine refugees.

In December 2022, Saudi Arabia also partnered with China to strengthen defence and energy relations. During Chinese President Xi Jinping’s visit to Saudi Arabia, both countries reaffirmed their commitment to the principle of non-interference in internal affairs. They also agreed on the importance of a peaceful solution to the Russia-Ukraine conflict.

However, the defence partnerships with countries like Chad and China are only a subset of the Kingdom’s overall strategy to improve defence. Saudi Arabia’s Vision 2030 details a comprehensive and ambitious framework to enhance the Kingdom’s defence sector. For instance, under the Vision 2030 framework, Mohammed bin Salman, the Crown Prince, announced that Saudi Arabia would be investing $50 billion to $80 billion to drive defence expenditure at a Compound Annual Growth Rate (CAGR) of 2.1%.

There are also projections that Saudi Arabia’s military industries sector will provide 100,000 job opportunities and contribute 95 billion Riyals to the Kingdom’s GDP by 2030.

Conclusion

There is little uncertainty that Saudi Arabia has a vibrant defence sector. Its efforts to establish defence partnerships with other countries are likely to significantly expand its military strength. It will also position the Kingdom for the achievement of its Vision 2030 defence goals.

Last Updated on 2 months by newseditor

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