(Pakistan Point News - 28th Nov, 2019) X X X Council Also reviewed were the latest updates on the seven key initiatives: 1. Joint tourist visa: Cooperation between the Saudi Commission for Tourism & National Heritage and UAE’s Ministry of Economy to issue a joint visit visa for residents of the two countries to facilitate tourism contribution to the national economy in the two countries 2. Speeding up the flow of traffic at the entry ports: The General Authority of Customs in the Kingdom of Saudi Arabia is working with the Federal Customs Authority in the UAE to facilitate the flow of traffic in ports, which will enhance the customs cooperation for the smooth flow of trade traffic at the customs ports between the two countries. One hour in 2018 to 4 hours in 2019 to be reduced in the coming years 3. Joint strategy for food security: This initiative aims at closer work between the two countries in the field of food security to ensure overcoming the food challenges facing the two countries in particular and the region in general, where through joint cooperation will work to provide a safe and sustainable food, at affordable prices for all and in all circumstances 4. Cyber security: The initiative aims to enhance cybersecurity in both countries and support the provision of a reliable cyberspace for each country through which to provide secure electronic services and transactions. Cooperation between the two countries will support their efforts in preventing and mitigating cyber attacks targeting the two countries, especially the significant damage that may occur. As a result of cyber attacks and in various areas, such as economic damage, political damage and others. This cooperation is expected to have a significant positive impact as a result of avoiding these potential damages. The initiative has contributed during the last phase to reduce cyber attacks compared to total cyber attacks on sensitive sectors by 55 percent, which led to the reduction of AED 257 million compared to 2018. Reduced response time from cyber attacks from a maximum of 24 hours to 6 hours, a 25% reduction in cyber attacks, saving more than AED 500,000 per day per attack, and increased awareness of cyber threats by individuals and organizations by 30 percent 5. Cryptocurrency pilot: A cross-border digital Currency which is strictly targeted for banks at an experimental phase with the aim of better understanding the implications of Blockchain technology and facilitating cross-border payments. The project will also determine the impact of a central currency on monetary policies 6. Mega refinery: An initiative to develop a new mega crude refinery with a capacity of 1.2 million barrels per day, integrated with a modern petrochemical complex at an initial cost of US$ 70 billion in the state of Maharashtra in western India, to secure the supply of at least 600 thousand barrels per day of Saudi crude oil And UAE for Indian market with high conversion rate for chemicals 7. Saudi-Emirati Youth Council: The initiative of establishing the Saudi-Emirati Youth Council is to strengthen the partnership between the youth in both countries, exchange ideas between them, and coordinate efforts aimed at raising the capacities in order to invest their potential in the development of society. The Council will work to enable young people to contribute and participate actively in the development of future development perspectives and encourage them to develop development initiatives to meet the challenges of the future, has been launched an interactive platform and guide to explain the work and objectives of the Saudi-Emirati Youth Council, and prepare a quarterly report on the performance of the Council, and communicate the ideas of youth To decision makers in both countries.
Meanwhile, the two sides also exchanged four new Memoranda of Understanding, MoUs, in the health, culture, space and food security fields in order to intensify and integrate efforts and find innovative solutions to achieve optimal utilisation of the available resources and accomplish the development objectives of both countries.
The exchanged MoUs between the two sides are as the following : Abdul Rahman bin Mohammad bin Nasser Al Owais, Minister of Health and Prevention exchanged a MoU on health field with Faisal bin Farhan Al Saud Minister of Foreign Affairs of Saudi Arabia .
Noura bint Mohammed Al Kaabi, Minister of Culture and Knowledge Development exchanged a MoU on the Cultural field with HRH Prince Bader bin Abdullah bin Mohammed bin Farhan Al Saud Minister of Culture of Saudi Arabia.
Dr. Ahmad bin Abdullah Humaid Belhoul Al Falasi, Minister of State for Higher education and Advanced Skills and Chairman of the UAE Space Agency exchanged a MoU on space with Mohammed Al Tuwaijri Minister of Economy and Planning of Saudi Arabia.
Mariam Hareb Almheiri, Minister of State for Food Security exchanged a MoU on food security with Mohammed Al Tuwaijri Minister of Economy and Planning.
The Saudi-Emirati Coordination Council was established through an agreement between the UAE and Saudi Arabia in May 2016, as per the directives of King Salman bin Abdulaziz Al Saud, Custodian of the Two Holy Mosques of Saudi Arabia and President His Highness Sheikh Khalifa bin Zayed Al Nahyan, to achieve their joint vision and highlight their countries’ stature in the areas of the economy, social development, politics and military integration, as well as to ensure the welfare of their communities.
The meeting was attended by H.H. Sheikh Hamdan bin Zayed Al Nahyan, Ruler's Representative in Al Dhafra Region, H.H. Lt. General Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of the Interior, H.H. Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, H.H. Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, Sheikhs, ministers and members of the Council.
