RIYADH: South Korean Trade Minister Paik Un-gyu held talks with a number of Saudi ministers on Monday to give impetus to the bilateral cooperation between the two countries in various field including nuclear energy.
Speaking to Arab News, Korean Ambassador Kwon Pyung-oh said the two countries have worked very closely in various fields. The Korean minister met Energy Minister Khalid Al-Falih, Minister of Commerce and Investment Majid Al-Qassabi and Minister of Economy and Planning Mohammad Al-Tuwaijri.
Notably, the two countries launched a ministerial-level Saudi-Korea Vision 2030 Committee to bolster bilateral cooperation, focusing on supporting business ventures between the two countries and enhancing networking with sustainable support for the economic reforms during the 18th Joint Committee Meeting (JCM) in Seoul last year.
This Vision 2030 Committee comprises five sub-groups headed by senior government representatives from both sides for cooperation in the key sectors that include energy and manufacturing, smart infrastructure and digitization, capacity building, health care and life sciences, and SME and investment.
The sub-groups aim to work closely with private corporations to identify joint projects that will promote the ambitious goals of Saudi Vision 2030.
“During the talks the two sides briefed on how they can work together to bring agreements and business opportunities to fruition through close and continuous cooperation,” the ambassador said, adding: “Through these talks I hope that South Korea can contribute to Saudi Arabia’s realization of its Vision 2030 as an optimal partner."
During the meeting with Al-Falih, who is also in charge of the King Abdullah City for Atomic and Renewable Energy (KACARE), they discussed ways to step up cooperation in the nuclear industry, the envoy said.
The two countries are working closely on nuclear safety and security, and the Kingdom has sent 41 nuclear experts to South Korea for training and learning to design, construct and develop nuclear plants based on System-integrated Modular Advanced Reactor (SMART) technology.
The Korean Atomic Energy Research Institute and the KACARE signed a SMART pre-project engineering agreement in September 2015 that will remain in effect until November 2018.
Significantly, Saudi Arabia has received requests for information from five countries, South Korea, China, the US, France and Russia, to build two nuclear reactors.
The Kingdom is expected to shortlist two or three preferred bidders and plans to select a winner by the end of this year. The discussion on this lucrative deal is a second chance for South Korea to tap into the Middle East market following a $20 billion contract with the UAE in 2009.
During his meeting with Al-Qassabi, Paik discussed expanding the two countries’ trade and investment cooperation.
The ministers also discussed cooperation in some ambitious projects that Riyadh is pushing for, such as the establishment of an electronic trading system.
Minister’s visit boosts Saudi-South Korean ties
Minister’s visit boosts Saudi-South Korean ties
Saudi, Iraqi defense ministers discuss cooperation in phone call
RIYADH: Saudi Minister of Defense Prince Khalid bin Salman received a phone call from his Iraqi counterpart Thabet Al-Abbasi on Tuesday, the Saudi Press Agency reported.
The two discussed Saudi-Iraqi relations and cooperation between the two countries in the military and defense fields, SPA added.
They also spoke about regional developments and shared efforts to enhance security and stability in the region and beyond.
RSAF personnel complete training in US missile defense system
- US-led THAAD program involved operational exercises, combat simulations
- Training part of Kingdom’s strategy to enhance armed forces’ capabilities
RIYADH: A second company from the Royal Saudi Air Force graduated this week after completing their training in an American anti-ballistic missile defense system.
The graduation ceremony, held at Fort Bliss in El Paso, Texas, was attended by Maj. Gen. Pilot Abdullah bin Mohammed Al-Rabiah, the Royal Saudi Air Defense Forces Institute commander and other representatives from the two countries.
The US-led program involved technical and operational exercises, combat simulations and advanced field training supervised by representatives of the manufacturers of the Terminal High Altitude Area Defense system and military experts, the Saudi Press Agency reported.
Another company of RSAF graduates completed the program last year as part of the Ministry of Defense’s strategy to enhance the capabilities of its forces through professional training.
The THAAD system is considered one of the most advanced and precise methods to tackle ballistic missile threats and has been adopted by the Kingdom as part of its air defense strategy.
Saudi fund signs $10m loan for renewable energy project in Solomon Islands
- Deal will help island nation reduce its reliance on conventional energy
- Since 1974, SaudFund for Development has financed 800 projects worth more than $21bn
RIYADH: The Saudi Fund for Development on Tuesday signed a $10 million development loan agreement with the Solomon Islands to support a renewable energy project.
The deal was signed by the fund’s CEO Sultan Al-Marshad and the Solomon Islands’ Finance and Treasury Minister Manasseh Sogavare.
The project aims to develop renewable energy infrastructure in the country by establishing solar power plants with a total capacity of 35.5 megawatts and energy storage systems.
This will reduce its reliance on conventional energy and support sustainable development goals for economic and environmental growth, the Saudi Press Agency reported.
The loan is the fund’s first to the Solomon Islands and demonstrates its commitment to supporting developing countries and small island states in overcoming economic, social and environmental challenges.
Since its foundation in 1974, the fund has financed more than 800 projects worth more than $21 billion in more than 100 countries.
Through its global initiatives, the fund enhances livelihoods, expands access to services and empowers communities, fostering inclusive growth and creating opportunities worldwide.
On the sidelines of the signing, Al-Marshad and his delegation met Solomon Islands Prime Minister Jeremiah Manele. They discussed the fund’s 50-year development efforts and ways to strengthen cooperation.
Five Arabian sand gazelles born in Buraidah Oasis
- Environmental achievement reflects national efforts to resettle wildlife, restore ecological balance in the Kingdom, and enhance the sustainability of its natural resources
- Center continues to implement its strategic plans to preserve wildlife and enrich biodiversity in the Kingdom, in line with the SGI, the National Environment Strategy, and Vision 2030
RIYADH: The National Center for Wildlife has announced the birth of five endangered Arabian sand gazelles in the Buraidah Oasis, as part of the center’s breeding and resettlement programs.
This environmental achievement reflects national efforts to resettle wildlife, restore ecological balance in the Kingdom, and enhance the sustainability of its natural resources, the Saudi Press Agency reported on Tuesday.
The center continues to implement its strategic plans to preserve wildlife and enrich biodiversity in the Kingdom, in line with the Saudi Green Initiative, the National Environment Strategy, and Vision 2030.
Saudi foreign minister lands in US for official visit
DUBAI: Saudi Arabia's Foreign Minister Prince Faisal bin Farhan landed in the United States on Tuesday, Al Arabiya Television reported.
