News and views

Key stories from across the region

A series of seven joint initiatives have been announced by the executive committee of the Saudi-Emirati Coordination Council, which held its first meeting in Abu Dhabi late last month.

The initiatives, which cover a range of sectors such as cryptocurrency, civil aviation and customs, aim to strengthen economic, social and military integration between the two countries. The committee is headed by the UAE’s Mohammad bin Abdullah Al Gergawi, minister of Cabinet Affairs and the Future and Saudi’s Mohammed bin Mazyad Altwaijri, minister of Economy and Planning. They announced that the seven new measures cover integration in the fields of services and financial markets, tourism, aviation, entrepreneurship, customs and security, official news agency WAM reported. The committee is tasked with ensuring the implementation of the joint initiatives.

The Saudi-Emirati council held its first meeting in Jeddah in June last year, where they signed a partnership for economic, developmental and military integration through 44 strategic projects. The seven new initiatives announced include:

1. Saudi-Emirati pilot cryptocurrency

To better understand the implications of blockchain technology and facilitating crossborder payments.

2. Easy flow of traffic at entry ports

To facilitate the easy flow of traffic at the entry ports and customs outlets through adoption of fast-track system.

3. Joint platform to support SMEs

To allow registered SMEs to benefit from the government procurement allocations.

4. Financial awareness programme for children

To teach children aged between seven and 18 years old about the basics of finance.

5. Joint exercise to test the supply security system

To identify the points of improvement and develop a plan accordingly.

6. Ensure disabled-friendly airports

To enhance the experience of travellers from the People of Determination category.

7. Common market for civil aviation

To achieve integration and cooperation in the civil aviation sector.