
Saudi Foreign Minister Receives AUC Chairperson in Riyadh
The Saudi Foreign Minister, Prince Faisal bin Farhan, and the Chairperson of the African Union Commission (AUC), Mahmoud Ali Youssouf, have met in Riyadh, reported the Saudi Press Agency (SPA).
On Thursday, Prince Faisal bin Farhan received Youssouf at the Foreign Ministry headquarters in Riyadh. During their meeting, the two officials reviewed the relations between Saudi Arabia and the African Union. They also explored ways to further bolster ties across various fields.
Furthermore, the Saudi Foreign Minister and the AUC Chairperson discussed topics of mutual interest.
The Saudi Deputy Foreign Minister, Waleed Al-Khuraiji, and Saudi Arabia's Ambassador to Ethiopia, Fahd Al-Humaidani, attended the meeting.
In mid-May, Youssouf met with Al-Khuraiji on the sidelines of the Arab League Summit in Baghdad. Both officials explored ways to strengthen the partnership between Saudi Arabia and the African Union (AU).
They also discussed boosting support for the African Union's efforts in enhancing peace, development, and regional integration, according to the AU press release at the time.
Saudi Arabia and the AU enjoy robust relations. In October 2024, the Kingdom hosted the New Africa Summit, on the sidelines of the 8th annual Future Investment Initiative (FII) in Riyadh.
The New Africa Summit brought together global leaders and decision-makers to explore the vast economic opportunities and discuss challenges facing the African continent.
It followed a Saudi-African Summit, held in November 2023, which aimed to foster bilateral relations and capitalize on the vast economic opportunities in Africa.
Short link :
Post Views: 5
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Saudi Gazette
2 hours ago
- Saudi Gazette
Saudi Arabia pledges reconstruction support for Syria as ties deepen
Saudi Gazette report DAMASCUS — Saudi Arabia's Foreign Minister Prince Faisal bin Farhan affirmed on Saturday from Damascus that the Kingdom will be at the forefront of nations supporting Syria's reconstruction and economic revival. Speaking alongside his Syrian counterpart, Asaad Al-Shibani, the minister also announced a joint Saudi-Qatari initiative to fund public sector salaries in Syria. 'Saudi Arabia will remain one of the leading countries standing beside Syria in its journey of reconstruction and economic revival,' Prince Faisal said during a joint press conference in Damascus. He confirmed that Riyadh and Doha will provide financial support for Syrian civil servants, signaling a new phase in bilateral cooperation. The visit follows U.S. President Donald Trump's recent announcement in Riyadh to lift economic sanctions on Syria, clearing the way for long-delayed economic recovery efforts after 14 years of devastating Faisal, who led a high-level Saudi economic delegation, met with Syrian President Ahmed Al-Sharaa and visited the Umayyad Mosque in Damascus alongside Al-Shibani, where the two performed foreign minister expressed gratitude for the Kingdom's role in lobbying for the lifting of U.S. sanctions, calling it 'instrumental in opening the door to economic normalization.'Al-Shibani confirmed that the two countries are entering a 'strong phase of joint investment and economic cooperation,' including infrastructure rebuilding, agricultural revival, and job part of the growing economic engagement, Saudi investors are expected to visit Damascus soon, with discussions underway on potential trade, investment, and development a significant financial gesture, Saudi Arabia and Qatar have also jointly cleared Syria's outstanding $15 million debt to the World is banking on this renewed regional backing to launch its economic recovery, following a war that killed over half a million people and crippled its to a February report by the United Nations, the cumulative GDP losses due to the conflict are estimated at $800 sanctions, imposed largely in response to the former Assad regime's crackdown on peaceful protests in 2011, had severely restricted Syria's access to international markets and funding. With those restrictions now lifted, Syria is seeking to reintegrate into regional economic frameworks with help from Gulf partners.


Saudi Gazette
4 hours ago
- Saudi Gazette
India to exempt PIF from foreign investment rules: report
Saudi Gazette report NEW DELHI — India has granted Saudi Arabia's Public Investment Fund (PIF) an exemption from restrictive foreign portfolio investment rules, paving the way for greater Saudi capital flows into Indian markets, according to Reuters. Previously, Indian regulations required pooling of investments from various sovereign entities and capped foreign ownership at 10% in any single listed company — limiting the ability of PIF and its affiliates to invest independently. The new exemption removes these barriers, offering the Saudi sovereign wealth fund more flexibility to deploy capital directly into Indian equity markets. One source explained that under the earlier rules, PIF subsidiaries were unable to make separate investments, restricting the fund's operations in one of the world's fastest-growing major economies. The exemption now allows these subsidiaries to invest individually without breaching regulatory limits. The move follows Indian Prime Minister Narendra Modi's visit to Saudi Arabia in April, where both countries committed to deepening investment cooperation in sectors such as energy, infrastructure, and pharmaceuticals. A bilateral investment treaty is currently under negotiation. Saudi Arabia's PIF, which manages around $925 billion in assets, currently holds investments in India totaling $1.5 billion in Jio Platforms and $1.3 billion in Reliance Retail. India, meanwhile, is keen to attract long-term capital from energy-rich Gulf countries to support its infrastructure development and economic ambitions. In 2024, the two countries established a high-level task force with a goal of mobilizing up to $100 billion in Saudi investment into India. A joint statement released during Modi's visit noted 'significant progress' in resolving tax-related issues and affirmed both nations' commitment to finalizing the investment treaty 'as soon as possible.' Media reports suggest that India is also considering further tax incentives for PIF to support investments in critical sectors such as infrastructure and energy.


Saudi Gazette
4 hours ago
- Saudi Gazette
Arab ministers condemn Israeli ‘ban' on planned West Bank visit: Jordan
Saudi Gazette report RIYADH — The foreign ministers of five Arab countries who had planned to visit the occupied West Bank this weekend condemned on Saturday Israel's decision to block their plans. The ministers condemned 'Israel's decision to ban the delegation's visit to Ramallah on Sunday to meet with Palestine President Mahmoud Abbas,' the Jordanian foreign ministry said. Ministers from Egypt, Jordan, Qatar, Saudi Arabia and the United Arab Emirates had been expected to take part alongside Turkey. Earlier, the Arab delegation, headed by Saudi Foreign Minister Prince Faisal bin Farhan, planned to visit Ramallah as part of the mission of the Arab-Islamic Ministerial Committee seeking to halt the war in the Gaza Strip, secure the entry of aid, and find a political horizon to end the Israeli occupation. The visit was planned following the last meeting of the committee in Madrid during which it discussed developments in the Gaza Strip and the West Bank. They stressed the importance of implementing the two-state solution based on relevant international resolutions, ensuring the Palestinian people's right to establish an independent state on the June 4, 1967 lines, with East Jerusalem as its capital. Meanwhile, Dr. Riyad Mansour, Palestinian representative to the United Nations, said that Saudi Arabia will take important steps regarding the recognition of the Palestinian state, while simultaneously anticipating, through the diplomatic street program, the recognition of the Palestinian state by 10 Western countries. At the same time, the Arab Ministerial Committee's actions are consistent with the beginning of preparations to mobilize recognition of Palestine through the conference on Palestine, co-chaired by Saudi Arabia and France in June. The conference is scheduled to be held in New York. The majority of UN member states, as well as observer states from other countries and regional blocs, have expressed their full support for the efforts made by the Kingdom and France to hold the conference. They affirmed their support for the two-state solution as the only internationally agreed-upon option. They also emphasized the importance of achieving practical results, including recognition of the State of Palestine, rejection of all attempts at annexation and forced displacement, and the need to support the Palestinian government and UNRWA.