UAE Signs Financial Cooperation Agreement with KSA and 2 Investment Agreements with Eswatini and Sri Lanka

• A Memorandum of Understanding was signed to enhance financial cooperation between the UAE and Saudi Arabia, including the exchange of expertise in financial policies, governance enhancement, and coordination on regional and international issues.
• The UAE signed two agreements with Eswatini and Sri Lanka to promote investments, provide a stable legal environment, and ensure investor protection.
• The agreements reaffirm the UAE’s commitment to creating a stable and attractive economic environment that supports sustainable development and opens new opportunities for UAE investments in promising markets such as South Africa and South Asia.

United Arab Emirates – February 13, 2025: The UAE has signed a financial cooperation agreement with Saudi Arabia and two investment protection and promotion agreements with the Kingdom of Eswatini and the Democratic Socialist Republic of Sri Lanka. These agreements were signed on the sidelines of the World Government Summit 2025, which concluded today in Dubai.

Financial Cooperation

The Memorandum of Understanding (MoU) between the UAE and Saudi Arabia is part of the deep-rooted strategic relations between the two brotherly nations. It aims to develop bilateral financial relations and expand areas of cooperation based on mutual benefit, serving the common interests of both countries.

The agreement covers several areas, including:

• Exchange of expertise and information in macroeconomic financial policies and public finance data analysis.
• Enhancing governance in the public sector.
• Joint coordination on regional and international financial issues.
• Expert exchanges, seminars, and conferences to develop financial policies in line with global economic changes.
• Promoting transparency and cooperation in financial data and policies.

The MoU was signed by H.E. Mohamed bin Hadi Al Hussaini, UAE Minister of State for Financial Affairs, and H.E. Mohammed bin Abdullah Al-Jadaan, Saudi Minister of Finance.

Investment Protection and Promotion

The investment protection and promotion agreements aim to strengthen economic ties between the UAE, Eswatini, and Sri Lanka by creating a stable and attractive investment environment and ensuring legal guarantees for investor protection under the highest international standards.

These agreements contribute to:

• Encouraging investment flows between the UAE, Eswatini, and Sri Lanka.
• Enhancing investor confidence by providing clear dispute resolution mechanisms.
• Allowing the free transfer of profits and returns without restrictions.
• Ensuring fair treatment of investors.

The agreements were signed by H.E. Mohamed bin Hadi Al Hussaini on behalf of the UAE. The Eswatini agreement was signed by H.E. Manqoba Khumalo, Minister of Commerce and Industry of Eswatini, while the Sri Lanka agreement was signed by H.E. Vijitha Herath, Minister of Foreign Affairs, Foreign Employment, and Tourism of Sri Lanka.

These agreements hold significant strategic importance for supporting UAE investments in emerging markets:

• Eswatini serves as a key gateway to South African markets.
• The Sri Lanka agreement strengthens economic cooperation in South Asia, opening new opportunities for UAE investors.

A Competitive Investment Environment

H.E. Mohamed bin Hadi Al Hussaini, UAE Minister of State for Financial Affairs, stated:

“These agreements reflect the UAE’s commitment to strengthening financial and investment cooperation regionally and internationally, contributing to sustainable development and fostering a stable and attractive economic environment. Our financial cooperation with Saudi Arabia underscores the depth of our strategic relationship and marks a key step in coordinating financial policies and exchanging expertise to enhance economic integration in the region.”

He added:

“The investment protection agreements with Eswatini and Sri Lanka align with our goal of expanding UAE investments in promising markets. These agreements ensure a legal framework that protects investments and boosts investor confidence. We look forward to increasing mutual investment flows and creating economic opportunities that support growth and stability for all parties.”

H.E. Mohammed bin Abdullah Al-Jadaan, Saudi Minister of Finance, emphasized the importance of the financial cooperation agreement, stating:

“The relationship between Saudi Arabia and the UAE is a model of strategic cooperation and integration across various fields, contributing to sustainable growth and benefiting citizens in both nations.”

H.E. Manqoba Khumalo, Minister of Commerce and Industry of Eswatini, described the agreement as a strategic milestone, saying:

“This investment protection agreement strengthens our partnership with the UAE and establishes a new era of sustainable economic cooperation. It provides a comprehensive legal framework ensuring investment protection and fostering a stable and secure business environment that promotes innovation and growth.”

H.E. Vijitha Herath, Sri Lanka’s Minister of Foreign Affairs, Foreign Employment, and Tourism, highlighted the agreement’s significance:

“The signing of this agreement is a major step towards enhancing economic relations and expanding investment cooperation between the UAE and Sri Lanka. It results from joint efforts and discussions, and we expect it to encourage UAE investors to leverage Sri Lanka’s strategic location on the Indian Ocean trade route, making it an attractive investment destination.”

These agreements reaffirm the UAE’s commitment to fostering economic stability, promoting global investment partnerships, and unlocking new opportunities for its investors in high-potential markets.