In Tunis, a significant advancement was made to foster Saudi-Tunisian economic relations as Bandar Ibrahim Alkhorayef, the Saudi Minister of Industry and Mineral Resources, finalized seven memoranda of understanding with Tunisian Interim Minister of Economy and Planning Sihem Boughdiri Nemsia. This event took place during the 11th session of the Saudi-Tunisian Joint Committee.
The memoranda, designed to advance collaborative efforts across various sectors, were endorsed under the watchful eye of Dr. Abdulaziz bin Ali Al-Saqr, the Saudi Ambassador to Tunisia.
Among the agreements, two in particular focused on agricultural scientific research and environmental conservation, involving the Saudi Ministry of Environment, Water, and Agriculture and Tunisia’s respective Ministries of Agriculture, Water Resources and Fisheries, and the Ministry of Environment.
Industrial synergy was also on the agenda, with an MoU dedicated to that effect between the Saudi Ministry of Industry and Mineral Resources and the Tunisian Ministry of Industry and Energy. Furthermore, the two nations cemented a commitment to bolster tourism through another memorandum.
The labor sector was not left out, as an MoU was inked between the Saudi Ministry of Human Resources and Social Development and Tunisia’s Ministry of Vocational Training and Employment. Additionally, collaboration in climate and meteorology was secured with an agreement between the Saudi National Center for Meteorology and Tunisia’s corresponding institution.
Trade statistics reveal that Saudi non-oil exports to Tunisia in the third quarter of 2023 stood at SAR513.42 million, dominated by chemicals, polymers, packaging, and construction materials. Conversely, the Kingdom’s non-oil imports from Tunisia totaled SAR206.59 million, with food items, textiles, heavy machinery, and electronics leading the import list.
Lastly, the Saudi Industrial Development Fund has played a pivotal role in financing joint ventures in Tunisia, contributing SAR3.8 million to the funding of one such project.