Saudi-Uzbek Joint Committee signs several private sector deals

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The Saudi-Uzbek Joint Committee signs several memoranda of understanding during its sixth meeting. (SPA)
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The Saudi-Uzbek Joint Committee signs several memoranda of understanding during its sixth meeting. (SPA)
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Updated 22 December 2023
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Saudi-Uzbek Joint Committee signs several private sector deals

  • The meeting aimed to identify specific areas of cooperation between the two countries

RIYADH: The Saudi-Uzbek Joint Committee held its sixth meeting in Riyadh on Thursday, where several agreements were signed between the private sectors of both countries, the Saudi Press Agency reported on Friday.

The meeting, which aimed to identify specific areas of cooperation between the two countries, was chaired by Saudi Minister of Investment Khalid Al-Falih and Uzbek Deputy Prime Minister Jamshid Khodjaev.

Al-Falih emphasized the compatibility of economic goals through Uzbekistan’s National Development Strategy 2023-2030, the Kingdom’s Vision 2030, and the National Investment Strategy.

He also pledged full support for the efforts of the Saudi-Uzbek Business Council, which plays a crucial role in bringing together the private sectors of both countries.

Al-Falih said that the meeting would discuss around 50 potential investment opportunities worth approximately $31 billion in Uzbekistan, adding that these projects aim to achieve the target of $110 billion in foreign investments within the goals of the Uzbekistan 2030 strategy.

The meeting tackled several topics related to bilateral cooperation in the economic, trade, and investment fields. It also reviewed the promising investment opportunities between the two countries and the business environment in both nations and emphasized the importance of strengthening joint work for future partnerships.

Both sides praised the achievements of launching joint projects and investments in the energy sector, renewable energy, health, infrastructure, agriculture, and human resources development.


Saudi energy minister holds series of high-level meetings to cement collaborations

Updated 16 January 2026
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Saudi energy minister holds series of high-level meetings to cement collaborations

RIYADH: Saudi Arabia’s Minister of Energy held a series of strategic meetings in Riyadh with senior ministers from various counties, in a diplomatic push to bolster international energy collaboration.

Officials from Greece, Brazil, and Morocco were among those to meet with Prince Abdulaziz bin Salman, as well as representatives from Libya and Pakistan.

The discussions centered on expanding cooperation across a wide spectrum of energy sectors, from traditional hydrocarbons to cutting-edge clean technologies, according to the Saudi Press Agency.

The engagements underscored Saudi Arabia’s proactive role in shaping the global energy transition through bilateral partnerships. A consistent theme across the talks was the dual focus on securing energy supplies and advancing climate-related solutions, including renewable power, clean hydrogen, and carbon management.

Deepening European and South American ties

Prince Abdulaziz bin Salman met with Greece’s Minister of Environment and Energy, Stavros Papastavrou. Building upon a previously signed Memorandum of Understanding, the two officials explored avenues for joint cooperation in oil and gas, electricity, and renewables, as well as other related sectors.

In a separate meeting with Brazil’s Minister of Mines and Energy, Alexandre Silveira, the parties discussed prospects for collaboration across various energy domains. They reviewed means to enhance coordination, particularly in electricity, renewables, oil and gas, and the exchange of technical expertise.

Signing a program with Morocco

A key outcome emerged from the meeting with Morocco’s Minister of Energy Transition and Sustainable Development, Leila Benali. Following their discussions on mutual interests, investment opportunities in renewables, and energy efficiency, the two sides signed an executive cooperation program.

This program, falling under an MoU signed in May 2022, aims to concretize the energy partnership. Its goals are boosting mutual investments in renewable projects and enabling national companies to collaborate on renewable energy projects.

It also encompasses using renewables in development projects, establishing joint research and development centers, and facilitating training and knowledge transfer.

Strengthening regional and Islamic cooperation

Prince Abdulaziz also conferred with Libya’s Minister of Oil and Gas, Khalifa Rajab Abdulsadek. Their meeting focused on energy cooperation, including energy technologies and solutions, as well as enhancing investment opportunities in renewables and energy efficiency.

Discussions with Pakistan’s Minister of Petroleum, Ali Pervaiz Malik, covered shared interests in oil and its supplies, renewable energy, energy efficiency, joint investment opportunities, and the exchange of expertise in project, policy, and regulatory development.

This flurry of diplomatic activity highlights Saudi Arabia’s comprehensive energy strategy, which seeks to maintain its leadership in traditional energy markets while pursuing a stake in the future clean energy economy.