Saudi Gazette report
RIYADH — Minister of Trade and Mineral Assets Bandar Al Khorayef mentioned methods of enhancing cooperation within the trade and mining sectors between Saudi Arabia and the African international locations collaborating within the Saudi-African Summit.
This has been carried out by Al Khorayef whereas holding bilateral conferences with a variety of ministers of African international locations collaborating within the summit which was held in Riyadh on Friday.
Based on the Saudi Press Company (SPA), Al Khorayef met with a variety of ministers from Zambia, who’re the Minister of International Affairs and Worldwide Cooperation, Stanley Kakubo, the Minister of Finance, Wastumbekem Mosoktwane, the Minister of Agriculture, Reuben Mtolo Phiri, and the Minister of International Affairs and Worldwide Commerce, Frederick Shava.
The assembly carried out by Al Khorayef was additionally with the Minister of Commerce, Trade, and Competitors of South Africa Ebrahim Patel, the Minister of Mines and Geology of Senegal Oumar Sarr, the Minister of Mines of the Democratic Republic of the Congo Antoinette N’Samba Kalambayi, and the Minister of Petroleum, Power, and Minerals of Mauritania Al-Nani Ould Chrougha, SPA acknowledged.
The conferences witnessed conducting partnerships between the Saudi and African corporations, exchanging technical experience, and discussing methods to profit from the promising funding alternatives within the African continent.
These conferences come inside the framework of Saudi Arabia’s endeavor, by means of the summit, geared toward enhancing the economic, mining and commerce partnership with the African international locations.
It additionally goals to strengthen cooperation in numerous financial fields and put money into enterprise improvement, infrastructure, and human capital, along with enhancing the cooperation to attain sustainable improvement within the African continent.
It’s noteworthy that Saudi Arabia’s Ministry of Trade and Mineral Assets has signed 4 Memorandum of Understandings (MoUs) with 4 African international locations to cooperate within the mining sector throughout Saudi-African Financial Discussion board in Riyadh within the presence of Al Khorayef and a variety of his counterparts from the international locations included within the MoUs.
The memorandums signed by Al Khorayef together with his counterparts included a MoU venture for technical cooperation within the subject of mining and mineral assets with Chad’s Ministry of Mines and Geology, Senegal’s Ministry of Mines and Geology, and Zimbabwe’s Mines and Mining Improvement.
The 4th memorandum was signed with Mauritania’s Ministry of Petroleum, Power for cooperation within the subject of mineral assets.
The MoUs stipulate on cooperating within the mining subject by creating sources of data on minerals and mines, exchanging experiences and consultants, joint cooperation within the subject of laws, laws and insurance policies for the mining sector.
In addition they stipulate on exchanging experiences within the subject of disseminating geological and mineral data, evaluating and decoding satellite tv for pc photographs, geographical knowledge, and utilizing Geographic Info Methods (GIS) instruments.
The memorandums additionally included encouraging the personal sector within the international locations to put money into the mini sector and exploring accessible mining alternatives, along with collaborating within the packages and dealing periods within the mining subject.
Moreover, transferring trendy know-how utilized in exploration and analysis of ores, encouraging native content material and enhancing the technical capabilities of native suppliers in superior sectors of the mining trade.
The MoUs recognized a variety of cooperation elements represented in creating the human cadres, transferring data within the subject of exploration and mining within the mineral assets sector in accordance with the laws in pressure within the talked about international locations.
This additionally included encouraging partnership and trade between public and semi-public establishments and personal corporations working within the minerals sector, in addition to consultations within the institutional improvement for the minerals sector, along with creating laws and legal guidelines regulating this sector.