Government | Sunday 4 December, 2016 9:11 am |

 Last year, historical relations between the Kingdom and the United Arab Emirates (UAE) witnessed a major strategic boost which was driven by keenness to promote ties and cooperation in different fields in a fashion that enhances joint action in the Gulf region. 

This boost has been reflected in intensive consultations, communications, and visits between the two countries’ officials, which resulted in forming a high committee for implementing strategies. The move has been aimed at elevating cooperation and coordination between the two sides to a level where they will be better positioned to achieve greater prosperity for their people and the people of the Gulf Cooperation Council (GCC) as a whole.
Saudi Arabia, led by King Salman, and the UAE, led by Sheikh Khalifa bin Zayed Al-Nahyan, enjoy historical, deeply rooted ties that are as old as the Gulf itself. Relations between the two nations are supported by close links of ethnicity, heritage and the common destiny that were co-founded by the late King Faisal and the late President Sheikh Zayed bin Sultan Al-Nahyan.
Succeeding leaders in the two countries have always been keen to keep these ties strong and stable through decades-old political and diplomatic traditions in a way that guarantees coordinated views on developments in the region and the world.
So complete harmony between Saudi Arabia and the UAE’s stances on issues of common interest has become routine.
Taking this into consideration, it is not surprising to find that trade and economic relations between Saudi Arabia and the UAE are the largest among the GCC countries. In other words, the UAE is one of KSA’s most important partners in the GCC and Arab region in general, with a trade exchange volume of SR72 billion.
The UAE is the top GCC exporter to the Kingdom and one of the largest GCC importers of Saudi goods. Globally, the UAE is one of the top 10 exporters to Saudi Arabia. Joint investments are valued at over 35 billion UAE dirhams. Around 2,366 registered Saudi companies, 66 commercial agencies, and 206 ventures currently operate in the UAE. The number of Emirati industrial and service ventures in the Kingdom has reached 114 with an estimated capital of SR15 billion.
The launching of the SR100 billion King Abdullah Economic City gave a significant push to the economic relations of the two countries. A Saudi-Emirati conglomerate, led by the UAE’s Emaar, has been formed to implement the venture on the Red Sea coast.
Tourism plays a vital role in enhancing their economic and trade relations. It is one of the promising key sectors that is expected to provide many opportunities for investments and joint ventures, especially after the UAE has allocated funds to develop the tourism sector in the coming 10 years to capitalize on the continuous successes it achieved in the field by attracting international travel companies.
The country has all it takes for a blooming tourist industry to flourish: security, stability, location, modern infrastructure and other attractive amenities.
Since the founding of the GCC, Saudi Arabia and the UAE have always been keen to back common action in the Gulf and adopt stances that support the unity of the nations of the region, benefit them and enable them to counter regional and international threats and challenges.