Date: 21 Aug, 2024
On Monday, August 19, 2024, in Riyadh, Saudi Arabia, a MoU was signed between the Arab Authority for Agricultural Investment and Development (AAAID) and the Arab Bank for Economic Development in Africa (BADEA). The MoU was signed by H.E. Dr. Obaid Saif Hamad Al-Zaabi, The Chairman of the Board of AAAID, and H.E. Dr. Sidi Ould Tah, President of BADEA.
The MoU aims to establish a general framework for cooperation between the two parties in common areas, including the provision of production inputs for agricultural projects in Arab countries from African sources, and the facilitation of export and import operations for food and agricultural products between the two parties. The MoU grants BADEA priority in dealing with companies in which AAAID has invested capital in Arab countries. It also seeks to identify and develop joint cooperation opportunities, exchange best practices, expertise, and technical knowledge. Additionally, the MoU includes cooperation in promoting and presenting Arab and African agricultural products and services through joint events.
