Saudi Arabia has called to increase the volume of trade exchange with Mauritania in various economic sectors, especially in agriculture, fisheries, and minerals.
Mauritanian Minister of Trade, Handicrafts, and Tourism, Al-Naha bint Hamdi Ould Meknes announced fundamental reforms introduced by the government to create a productive, diversified, and integrated economy.
The Mauritanian Minister met the Federation of Saudi Chambers in Riyadh Sunday. She announced the establishment of a High Investment Council chaired by Mauritanian President Mohamed Ould Cheikh Ghazouani.
Ould Meknes also noted that the cabinet introduced several legislative reforms to investment systems and procedures to create a competitive business sector.
During her participation in the Saudi-Mauritanian Business Forum, the Minister pointed out that her country can advance the economic relationship and the mutual trade exchange between the two countries.
Meanwhile, the Governor of the General Authority of Foreign Trade (GAFT), Abdulrahman al-Harbi, hoped the Forum would contribute to developing economic and trade relations to achieve the aspirations of leadership and business owners.
Harbi stated that Vision 2030 seeks to strengthen economic ties with other countries, including Mauritania, to raise the rate of trade exchange between the two countries.
He explained that the trade exchange between the two countries increased from $19 million in 2016 to about $27 million in 2020.
The Governor stressed the need to double the efforts of the public and private sectors to increase the volume of trade exchange between the two countries and create economic partnerships in various economic sectors, especially in agriculture, fisheries, and minerals.
The Mauritanian delegation presented many investment opportunities in the fishing sector and the ocean economy in Mauritania.
The officials revealed Mauritania has several characteristics for investment opportunities such as its strategic location, appropriate infrastructure, laws, and experience in exporting fish to 63 countries worldwide.
Deputy Chairman of the Federation of Saudi Chambers Tariq al-Haidari called for exploring the promising investment and commercial opportunities in both countries, overcoming all obstacles facing Saudi businessmen in Mauritania.
Haidari reiterated the need to reduce investment taxes, introduce banking facilities, allow the transfer of hard currencies outside Mauritania, and accelerate the establishment of the free zone in Nouadhibou, which enjoys a stimulating tax and customs system.
The Saudi official called for proceeding with constructive dialogue aimed at achieving the interests of both brotherly countries.
