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Saudi Arabia Signs MoU to Establish Arab Market for Electricity | ASHARQ AL-AWSAT English Archive 2005 -2017
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Khalid al-Falih, the new Saudi Minister of Energy, Industry and Mineral Resources Ministry, is sworn in by Saudi King Salman (not seen) in Riyadh, Saudi Arabia May 9, 2016. Saudi Press Agency/Handout via REUTERS

Cairo- Saudi Arabia’s energy minister Eng. Khalid Al-Falih signed on Thursday at the Arab League headquarters in Egypt a memorandum of understanding for establishing an Arab joint electricity market on the sidelines of 12th session of the Arab Ministerial Council for Electricity.

The MoU was signed by the Kingdom of Saudi Arabia, the United Arab Emirates, Bahrain, Algeria, Sudan, Iraq, Oman, Qatar, Union of the Comoros, Kuwait, Egypt, Libya, Morocco and Yemen.

The document was signed by energy ministers of Arab states or assigned representatives.

More so, the memorandum of understanding addresses political commitment to support on joining power grids of several Arab states.

In 1945, the Arab League was formed in an aim for it to be a regional organisation of Arab states with a focus to developing the economy, resolving disputes and coordinating political goals.

The Arab League tries to help integrate its members economically, and solve conflicts involving member states without foreign interference or assistance. It also possesses elements of a state representative parliament while foreign affairs are often dealt with under UN supervision.