UAE signs 3 agreements with Saudi Arabia, Sri Lanka and Eswatini on financial cooperation and investment protection and promotion
13 February 2025
The UAE has deepened its international financial partnerships, signing a cooperation agreement in the financial sector with Saudi Arabia and two investment protection and promotion agreements with Eswatini and Sri Lanka. The deals were signed during the World Government Summit 2025, which concluded today in Dubai.
Financial Cooperation
The UAE-Saudi MoU aims to deepen financial cooperation between the two Gulf nations. Backed by their longstanding strategic relationship, the MoU seeks to enhance bilateral financial collaboration, and expand joint cooperation based on mutual benefit, serving the common interests of the two countries.
Under the MoU, both sides will cooperate in exchanging expertise and information on macro-financial policies, analysing public finance data, enhancing public sector governance, and coordinating on regional and international financial sector matters.
The agreement also covers expert exchanges, organizing seminars and conferences, developing financial policies to align with global economic trends, promoting transparency in financial data, and collaborating on climate change issues related to financial policies.
The memorandum was signed by HE Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs, and HE Mohammed bin Abdullah Al Jadaan, Saudi Minister of Finance.
Protecting and Promoting Investment
The two Investment Protection and Promotion Agreements aim to strengthen economic relations between the UAE and Eswatini, as well as Sri Lanka, by creating a stable and attractive investment environment with legal guarantees that safeguard investments in line with the highest international standards.
These agreements would also play a crucial role in stimulating the flow of investments between the UAE, Eswatini, and Sri Lanka, while enhancing investor confidence by offering clear dispute resolution mechanisms, facilitating the unrestricted transfer of profits and returns, and ensuring fair treatment for investors.
The agreements were signed by His Excellency Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs. The Sri Lanka agreement was signed by His Excellency Vijitha Herath, Minister of Foreign Affairs, Foreign Employment and Tourism, while the Eswatini agreement was signed by His Excellency Mancoba Khumalo, Minister of Commerce, Industry, and Trade.
These agreements are particularly significant for supporting UAE investments in promising markets, as Eswatini offers a strategic gateway to the South African market, and the agreement with Sri Lanka creates new opportunities for economic cooperation in the South Asian region, opening fresh prospects for UAE investors.
Attractive environment
H.E. Mohamed bin Hadi Al Hussaini stated: “The agreements signed by the UAE with the three countries reflect its commitment to strengthening financial and investment cooperation at both regional and international levels, achieving sustainable development and fostering a stable and attractive economic environment.”
He added: “The financial cooperation with Saudi Arabia demonstrates the depth of the strategic relations between our two nations. It represents a significant step towards aligning financial policies and exchanging expertise, further enhancing economic integration across the region.”
His Excellency continued: “The investment protection and promotion agreements with Eswatini and Sri Lanka are part of the UAE’s ongoing efforts to expand opportunities for Emirati investments in promising markets. These agreements provide a robust legal framework that safeguards investments and boosts investor confidence.”
“Through these agreements, we look forward to enhancing mutual investment flows and creating economic opportunities that support growth and stability, ultimately serving the shared interests of all parties involved,” His Excellency concluded.
For his part, Saudi Minister Mohammed bin Abdullah Al-Jadaan, stressed that the financial cooperation agreement with the UAE will further strengthen ties between the two brotherly nations.
“The relationship between Saudi Arabia and the UAE stands out as a model of strategic cooperation and integration across various fields. This partnership not only promotes sustainable growth but also delivers tangible benefits to the citizens of both countries,” he stated.
Meanwhile, H.E. Mancoba Khumalo described the signing of the Investment Protection and Promotion Agreement as a strategic milestone that reinforces the deep-rooted partnership between Eswatini and the UAE and ushers in a new era of sustainable economic collaboration.
“This agreement establishes a comprehensive legal framework that safeguards investments and ensures a stable, secure investment environment that encourages innovation and economic expansion. It reflects the shared commitment of both nations to enhancing economic opportunities and laying the foundation for joint development that serves mutual interests," he said.
He further emphasised: "This partnership offers Eswatini access to promising opportunities provided by the UAE while creating a strong foundation for mutual economic growth. We are confident that this agreement will be a key pillar for advancing cooperation, fostering innovation, and facilitating knowledge exchange, ultimately contributing to the sustainable development of both nations."
Additionally, His Excellency Vijitha Herath noted that the agreement between the UAE and Sri Lanka is a step in the right direction toward deepening economic ties and expanding investment cooperation between the UAE and Sri Lanka.
“This agreement was finalized after successful negotiations and constructive discussions between the two sides. It is expected to encourage UAE investors to utilize Sri Lanka’s strategic location along the Indian Ocean maritime trade route, making it an attractive investment destination. We are committed to providing a safe and attractive investment environment for UAE investors, ensuring mutual growth and prosperity,” His Excellency added.
