RIYADH — Saudi Arabia and the United Arab Emirates signed a memorandum of understanding (MoU) in Riyadh on Thursday to strengthen strategic cooperation in electricity grid interconnection, power trading and cross-border rail connectivity.The agreement was signed by Saudi Minister of Energy and Minister of Industry and Mineral Resources Prince Abdulaziz bin Salman and UAE Minister of Investment Mohamed Hassan Alsuwaidi, with the aim of maximizing economic benefits and strengthening integration between the two countries.Under the MoU, Saudi Arabia and the UAE will establish general principles governing electricity grid interconnection and the exchange and sale of electricity.The two countries will also conduct technical, economic and environmental studies and coordinate with other Gulf Cooperation Council (GCC) member states on expanding the GCC Interconnection Grid in accordance with the GCC General Agreement for Grid Interconnection.The cooperation aims to improve the efficiency of electricity systems and strengthen regional energy integration.The agreement also covers rail connectivity between Saudi Arabia and the UAE, establishing a framework for the two-way transportation and transit of goods and freight.The proposed cooperation is intended to enhance logistics integration, improve supply chain efficiency and support economic development by strengthening transport links between the two countries.
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