By Yara Abi Farraj

UAE, Saudi Arabia explore establishment of Saudi-Emirati Coordination Council to enhance procurement

Council to enhance achievements, protect interests, and create new opportunities for both nations

MoF's government procurement solutions have become a leading model presenting a new concept of government procurement (Image: WAM)

During a recent meeting, the UAE Ministry of Finance (MoF) and Saudi Arabia’s Government Expenditure and Projects Efficiency Authority (EXPRO) explored how the MoF could share its experience in launching the Digital Procurement Platform, diversifying service providers, and offering exclusive benefits to entrepreneurs and small and medium-sized enterprises.

During the meeting, Younis Haji Al Khoori, Under-Secretary of the UAE’s MoF, welcomed Saudi Arabia’s delegation stating: “The MoF is keen to share its pioneering experience with our friends in the Kingdom of Saudi Arabia, and to benefit from their unique expertise, which serves the development of both nations, contributes to the welfare of our people, and realizes their common aspirations.”

Saudi-Emirati Coordination Council

Al Khoori added that the UAE and Saudi Arabia share a long historical relationship which both sides seek to enhance in line with the framework of bilateral relations and the memberships of the League of Arab States and the Gulf Cooperation Council.

Al Khoori added that the collaboration between UAE and Saudi Arabia culminates with the establishment of the Saudi-Emirati Coordination Council. President His Highness Sheikh Mohamed bin Zayed Al Nahyan, and Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister of Saudi Arabia will lead the council.

This council will include multiple agreements and projects under three pillars, including economy and finance. This will contribute to enhancing achievements, protecting interests and creating new opportunities for the two nations. Hence, the UAE MoF’s government procurement solutions have become a leading model presenting a new concept of government procurement.

Read: More than 1,200 brands ready for franchising in Saudi Arabia: Report

By providing lists of common products and services, the solutions reduce the time for the purchasing process from 60 days to six minutes when purchasing from these lists. This enhances the efficiency of government spending through framework agreements with suppliers to ensure the best prices and take into account the quality of products and services.

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