French President Francois Hollande and Deputy Crown Prince Muhammad Bin Salman, deputy premier witnessed at the Elysee Palace in Paris Wednesday the signing of a number of agreements between the Kingdom and France. — SPA
PARIS – French President Francois Hollande and Deputy Crown Prince Muhammad Bin Salman, deputy premier, minister of defense and chairman of the Economic and Development Affairs Council witnessed at the Elysee Palace in Paris Wednesday the signing of a number of agreements between the Kingdom and France. The 10 agreements include a letter of intent for Arriva Company to conduct a feasibility study for establishing two nuclear reactors in the Kingdom, an executive cooperation agreement in the health field, and a technical cooperation agreement in the industrial field that includes cooperation in the development of industrial exports, increasing the volume of mutual trade, exchange of commercial and industrial information and experience related to industrial policies and creativity in order to contribute to support and increase competitiveness of small, medium and nascent establishments. They also include the signing of a contract to supply the Saudi Border Guard with 23 helicopters from Airbus Company at a cost of $470 million, an investment contract between the General Investment Fund and the French Exports Credit Company according to which the fund will finance some operations on which credit conditions apply; memorandum of understanding between Saudi Arabian Airlines and Airbus Company on expediting the handing over of 50 Airbus planes, of which 20 planes will be Airbus 330 regional planes. Saudi Arabian Airlines will be the first operator of this model of planes in the world to serve domestic and regional flights. Meanwhile, 30 planes will be Airbus-320 that have the highest sales in the world. This will also boost Saudia's capability to serve domestic aviation. A scientific cooperation agreement between King Abdulaziz City for Science and Technology (KACST) and the French National Center for Scientific Research was signed. A memorandum of investment understanding between the Kingdom and the French government was signed. According to this memorandum, the General Investment Fund and Saudi investment institutions will invest in privately-owned companies in France. A memorandum of understanding for cooperation in radioactive waste management was signed between King Abdullah City for Atomic and Renewable Energy and the French Institute for Protection from Radioactivity and Nuclear Safety. A memorandum of understanding for cooperation was signed between K.A.CARE and the French Agency for the Management of Nuclear Waste in the field of development and organization of the peaceful use of atomic energy in the field of nuclear waste. The signing of the agreements was attended by Minister of Economy and Planning Adel Fakeih and Minister of Commerce and Industry Dr. Tawfiq Bin Fowzan Al-Rabeah, among others.
