ECONOMY

Saudi Arabia, Malaysia sign four MoUs during King Salman visit

King Salman’s month-long Asia tour will see him visit Indonesia, Brunei, Japan, China, the Maldives and Jordan. (SPA)

Saudi Arabia and Malaysia signed four Memorandums of Understanding between them on Monday during a visit by King Salman bin Abdulaziz al-Saud to Kuala Lumpur.

The first memorandum of understanding (MoU) signed was related to the trade and investment sectors and was signed by former finance minister and current state minister of Saudi Arabia Ibrahim Abdulaziz Al-Assaf and Malaysia’s Minister of Trade and Industry Dato’ Sri Mustapa bin Mohamed.

The second MoU signed on Monday dealt with the employment and human resources fields and signed by Saudi Arabia’s Minister of Labor Ali bin Nasser al-Ghafis and Malaysia’s Federal Minister for Human Resources Datuk Richard Riot Jaem.

King Salman’s month-long Asia tour will see him visit Indonesia, Brunei, Japan, China, the Maldives and Jordan “to meet with the leaders of those countries to discuss bilateral relations and regional and international issues of common concern”.

Malaysian Prime Minister Najib Razak said Monday that oil major Saudi Aramco will invest $7 billion in a mammoth oil processing hub in Malaysia, making it the single largest investor in the Southeast Asian country.

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Last Update: Monday, 27 February 2017 KSA 17:29 - GMT 14:29
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