RIYADH, Saudi Arabia: The inaugural Saudi Arabia-Caribbean Neighborhood (CARICOM) summit opened right here on Thursday with the Kingdom concerning the deliberations as a landmark occasion geared toward fortifying partnerships and opening new avenues for collaboration between the biggest nation within the Arabian Peninsula and the Caribbean.
The summit comes two months after the approval of the Joint Motion Plan between the Gulf Cooperation Council (GCC) and CARICOM for 2023-2027.
This plan was endorsed throughout a joint assembly of international ministers on September September 18York and descriptions the first aims and mechanisms for political dialogue, commerce facilitation, funding promotion, and tourism cooperation.
In accordance with Saudi Arabian and CARICOM officers, the summit is poised to reinforce commerce and funding flows between the 2 areas.
They observe that whereas the commerce quantity between GCC international locations and the Caribbean stood at roughly US$6.5 billion in 2021, the plan supplies a framework to amplify commerce and funding by means of dialogues between officers from either side.
It emphasizes engagement with enterprise leaders regional, and worldwide organizations to fulfill funding wants and enterprise alternatives by means of partnerships throughout private and non-private sectors, together with transportation and logistical companies.
The summit is co-chaired by Saudi Crown Prince and Prime Minister Mohammed bin Salman and Dominica’s Prime Minister, Roosevelt Skerrit, additionally chairman of the 15-member CARICOM grouping.
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