In a move poised to invigorate commercial relations, the Federation of Saudi Chambers has entered into a strategic partnership with the National Center for Marketing and Price Study at the Ministry of Foreign Affairs of Belarus. This alliance, formalized through a memorandum of understanding (MoU), aims to amplify investment and trade activities between the two countries.
The MoU was ceremoniously signed at the Saudi federation’s office by Walid Al-Arinan, who is fulfilling duties as the Acting Secretary of the Federation of Saudi Chambers, alongside Mikalai Barysevich, the Director of the National Center for Marketing and Price Studies of Belarus. The agreement is set to establish a framework for both nations to share insights on various economic facets, including trade dynamics, investment climates, production capabilities, and export potential. This initiative is expected to support Saudi and Belarusian enterprises in broadening their market reach.
The collaboration will span multiple domains, with plans to conduct joint market research, which aims to bolster trade opportunities. The two parties are also looking to enhance bilateral cooperation through a series of engagements, such as participation in trade exhibitions, hosting of economic forums, and exchange of business delegations. In a concerted effort to back investors, the agreement includes provisions for setting up business contacts, organizing online international training seminars, and sharing best practices in the realms of information technology and digital transformation to advance trade relations. These concerted efforts are anticipated to open doors for companies in both countries to explore and establish a stronger presence in each other’s marketplaces.