Economic Minister Mohamed Saeed, who is currently in Saudi Arabia for trade talks, has signed an MoU on behalf of Maldives to strengthen trade relations with the country.

The MoU was signed by the Saudi Commerce Minister Majid bin Abdullah bin Osman Al Qasabi on behalf of the Saudi government. He is also the chairman of the country's General Authority of Foreign Trade.

In a statement issued today, the Economic Ministry said the MoU will strengthen trade relations, increase investment opportunities and further develop financial ties, resulting in investments in trade, tourism and construction sectors.

At Monday's signing ceremony, Saeed said the MoU is a symbol of the strong relationship between the two countries and would be a force to fulfil President Dr. Mohamed Muizzu's economic vision.

Saeed in Saudi Arabia. -- Photo: Economic Ministry

Apart from the Commerce Minister, Saeed also held talks with Saudi Investment Assistant Minister Ibrahim Almubarak.

After the meeting, Saeed said in a post on X that both countries are ready to work together and seek investments in new areas.

Former Foreign Minister Moosa Zameer also visited Saudi Arabia last month for trade talks and to hand over a letter from President Muizzu.

It is unclear when Saeed would conclude the Saudi visit and return to the Maldives.