2024-02-28 11:54:09
Tunisian-Saudi relations have experienced tangible development for years in various areas, reflected in intense mutual visits by government officials and actors from the public and private sectors of the two countries. Ties between the two countries have been raised to the level of a comprehensive, renewed and strategic partnership. They expressed their strong commitment to further strengthening the economic partnership and agree on the need to raise it to the level of the aspirations of both parties and the capacities at their disposal. In recognition of the distinguished level of fraternal relations between them, and following the holding, in December 2023 in Tunis, of the 11th session of the joint commission, a financing agreement worth 55 million US dollars (approximately 173 million dinars) was signed between the Tunisian government and the Saudi Fund for Development to contribute to financing the project to renovate and strengthen the railway network intended for the transport of phosphate. The project aims to strengthen the capacities of Sncft in terms of transport of produced and processed phosphate, to ensure an improvement in the financial situation of companies operating in the sector. Others projects in strategic sectors (energy, agriculture, tourism, pharmaceutical industry, etc.), as well as the business financing program, particularly SMEs and SMIs, will also benefit from financing from the Fund.
Remember that the fund’s first interventions date back to 1975, since then contributing to the financing of 35 development projects with a total cost amounting to 1.3 billion dollars (or approximately 4.07 billion dinars). This reflects the Kingdom’s desire to seek investment opportunities and employment incentives in Tunisia, especially since our country has significant potential in mineral wealth (iron, copper and lead), as well as a significant phosphate reserve.
Saudi Arabia aspires to be an active partner, through the search for investment opportunities in the private sector, with a view to increasing the level of bilateral trade. For its part, the Tunisian government intends to further diversify cooperation in priority areas, such as food security, water and the energy and digital transition, to stimulate development and guarantee new opportunities for future joint actions. .
Clearly, Tunisia and Saudi Arabia have been able to build a promising and diversified economic and commercial partnership and consolidate ties that transcend geographical distance and strengthen the prospects for bilateral cooperation in the service of the aspirations of the people of the two countries.
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