Canada, Saudi Arabia sign MoUs to boost cooperation

Saudi Crown Prince and Prime Minister Mohammed bin Salman bin Abdulaziz Al Saud and Canadian Prime Minister Mark Carney met Thursday in Jeddah to review bilateral ties and regional developments, with both sides exchanging several memoranda of understanding (MoUs), reported Xinhua, quoting the Saudi Press Agency.

The MoUs included a cooperation agreement on energy, the establishment of a Saudi-Canadian Coordination Council, and a pact on artificial intelligence (AI) investment and skills development, it reported.

Also on Thursday, the Saudi-Canadian Investment Forum was held in Jeddah, during which 15 additional MoUs and cooperation agreements were signed between government entities, companies and institutions from both countries, it reported.

Participants discussed investment opportunities in financial services, mining, advanced industries and AI, among others. Saudi Arabia's mineral resources are estimated at some 2.5 trillion U.S. dollars, covering more than 50 minerals, it reported.