In January 2024, the Australia Saudi Business Council & Forum and the Makkah Chamber of Commerce signed a historic Memorandum of Understanding (MOU), marking the first collaboration of its kind. The agreement was signed by Mr. Sam Jamsheedi, President of the Australia Saudi Business Council & Forum, and Mr. Abdullah Hanife, Secretary General of the Makkah Chamber of Commerce and Industry.
As the birthplace of Islam and one of its holiest cities, Makkah holds significant economic and cultural importance. This MOU aims to strengthen trade, investment, and bilateral relations between Australia and Saudi Arabia. The partnership will open new avenues for business cooperation, fostering mutual economic growth and deeper commercial ties between the two nations.
By formalising this collaboration, both parties commit to promoting business exchange, facilitating investment opportunities, and supporting key industries that drive economic progress. This milestone agreement reinforces Australia and Saudi Arabia’s growing economic relationship and sets the foundation for future trade and investment initiatives.
