Saudi Crown Prince: 2020 will be ‘the year of achievement’ for Saudi Arabia, UAE

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Saudi Arabia’s Crown Prince Mohammed bin Salman said on Thursday that 2020 will be “the year of achievement” for Saudi Arabia and the UAE, according to the Saudi Press Agency (SPA).

“The year 2020 is the year of achievement for both countries…Saudi Arabia’s presidency of the G20 in 2020, and the UAE’s hosting of the Expo 2020, are the best proof of what both countries have,” the Crown Prince said during the second meeting of the Saudi-UAE Coordination Council in Abu Dhabi, which he co-chaired with Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces Sheikh Mohammed bin Zayed Al Nahyan.

During the meeting Saudi Arabia invited the UAE as a guest at next year’s G20 summit, scheduled for November 21-22, 2020.

The Crown Prince said the Saudi Arabian-UAE joint economy can work towards, and seeks to be, one of the top ten economies in the world and one of the top ten financial markets in the world.

“We can work together to become one of the top 10 economies in the world, as foreign investments currently exceed $250 billion in various economic sectors… Our financial markets exceed $720 billion, and we seek to be one of the top ten financial markets in the world,” the Crown Prince said, adding the Saudi-UAE integration not only benefits the two countries, but also the Gulf Cooperation Council (GCC).

Sheikh Mohammed bin Zayed stressed the strength of Saudi-UAE relations, citing twenty common areas of development in fields such as economy and security.

A number of bilateral agreements were exchanged between the two governments including memorandums of cooperation in the fields of health, culture, and food security.

Among the initiatives discussed were cooperation in cybersecurity, a joint tourist visa initiative, and a Saudi-Emirati Youth Council initiative.