Economy
Saudi Arabia Plans Red Sea Pact as Gulf Interest in Africa Grows

Saudi Arabia wants to bring several states lining the Red Sea and Gulf of Aden into a bloc to improve trade and maritime navigation, according to state-run media.
Saudi King Salman bin Abdulaziz met at his Riyadh palace with foreign ministry officials from Egypt, Djibouti, Somalia, Sudan, Yemen and Jordan “to look into establishing an entity for Arab and African states on the Red Sea coast,” Saudi Press Agency reported on Wednesday. They discussed ways to promote commerce and investment, as well as to protect shipping, Al Ekhbariya said.
Gulf states have been taking a more active role in the Horn of Africa, which got a special mention in the communique issued at the end of Sunday’s Gulf Cooperation Council summit.
Saudi Arabia, for example, brokered a peace deal in September between Eritrea and Ethiopia. Eritrea is located near the near Bab el-Mandeb, a shipping choke-point on the Red Sea used by oil tankers and other cargo vessels en route to Europe and the U.S. through the Suez Canal.
The United Arab Emirates has also been expanding its footprint in the region, though it wasn’t included in the grouping. Ethiopia and the breakaway republic of Somaliland, two countries with which the U.A.E. has good relations, also appear to have been excluded.
Saudi Arabia and the U.A.E. are both part of a military coalition seeking to restore a friendly government in Yemen ousted by rebel fighters. Parties to the conflict are meeting in Sweden under U.S. pressure to agree to a cease-fire.
Continue Reading
-
Banking & Finance1 day ago
Oman Arab Bank Announces Increase of Authorised Capital to RO500mn and Paid‑In Capital Boost of RO50mn
-
OER Magazines2 months ago
OER, April 25
-
Alamaliktistaad Magazines2 months ago
Al-Iktisaad, April 25
-
Renewables1 month ago
Jindal Renewables and OQ Alternative Energy Sign Joint Development Agreement to Advance Integrated Renewable Power Projects in Oman
-
Business2 months ago
St. Petersburg International Economic Forum 2025 unveils its Business Programme
-
Leaders Speak1 month ago
OERLive SPOTLIGHT: Oman Sustainability Week 2025 and Oman Petroleum & Energy Show
-
Alamaliktistaad Magazines1 month ago
Al-Iktisaad, May 25
-
OER Magazines4 weeks ago
OER, May 2025
You must be logged in to post a comment Login