Cabinet OKs pact to relocate GPCA headquarters to Riyadh

The Council of Ministers approved a headquarters agreement between the Government of Saudi Arabia and the Gulf Petrochemicals and Chemicals Association (GPCA) to relocate the association’s headquarters to Riyadh.

The decision came during the Cabinet’s session held today, Feb. 25, in Riyadh, chaired by the Custodian of the Two Holy Mosques King Salman bin Abdulaziz.

According to the Saudi Press Agency (SPA), the Council of Ministers also authorized the Minister of Industry and Mineral Resources—or a designated representative—to negotiate and sign an agreement with the Brazilian side on a draft memorandum of understanding (MoU) between the Saudi Ministry of Industry and Mineral Resources and the Brazilian Ministry of Mines and Energy for cooperation in the field of mineral resources.

Additionally, the Council authorized the Minister of Investment—or a designated representative—to negotiate a draft MoU with the Ivorian government for cooperation in promoting direct investment.

The minister was also authorized to negotiate a similar MoU with the Bahrain Economic Development Board and to sign both agreements.