What Is Al Ula Agreement
However, there are still differences of opinion on their implementation. “Countries like Oman have declared that they will not join an economic union, and their position has been the same for many years,” said the ICC`s Esfandiary. “I don`t think this is the time when such things can be dealt with.” UN agencies usually enter into partnership agreements with national governments, not provincial authorities, so the agreement with the UCR underscores the importance that Crown Prince Muhammad bin Salman attaches to the creation of a cultural and tourist monument in his country. Prospects for biosphere reserves and geoparks have also been bolstered by the province`s recent expansion of 22,000 square kilometers to include the Tayma Oasis and the former settlement of Khaybar, located near a spectacular white volcanic landscape. On the 10th. In April 2018, a cooperation agreement was signed between Saudi Arabia and France to develop the site and transform it into a cultural site in order to open the site to regional and international visitors.  The main components of the agreement were related to the cultural, cultural, natural, touristic, human and economic development of Al-`Ula and included the preservation and planning of the archaeological and architectural heritage.  With the agreement now in place, companies should consider reviewing current contractual obligations and how they would be affected by the elimination of embargo-related disruptions. Companies that have postponed tenders for projects in a particular GCC country due to political concerns may also re-examine the possibilities of tendering in those countries.
The Alula Kingdoms Institute and its museum are expected to open to the public in 2030 alongside the Archaeological Site of Dadan, and the area aims to attract 835,000 tourists a year by 2035. RCU has signed an agreement with French hotel group Accor to double its hotel capacity, and Saudi airline Flynas has launched its first international flights to AlUla. Dubai and Kuwait. In the longer term, the Saudis hope to welcome two million tourists a year, but they are committed to “maintaining sustainability and site protection as a driving force” in developing tourism capacity. Another major beneficiary of the deal is likely to be Qatar`s banking sector. In a note, Fitch Ratings said the blockade led to the withdrawal of deposits from non-residents of Qatari banks in June-October 2017, mainly Saudi depositors, but also some from the UAE, resulting in a shortage of foreign currency liquidity. In September, ucR signed another far-reaching agreement with an NGO, the International Union for Conservation of Nature (IUCN). Eman Alhussein, a non-resident researcher at the Institute of Arab States of the Gulf in Washington, told Al Jazeera that disagreements between Gulf states should continue, but that “GCC states will benefit from a better security environment, which seems to be one of the goals of recent regional activities and should also be at the heart of discussions at the upcoming summit in Riyadh.” The summit is the first since the Al-Ula agreement, which led to the blockade of the Gulf states in order to restore relations with Qatar. The agreement of the Al-Ula summit was a confidence-building measure that provides Qatar with a framework for further regional reconciliation. This requires Qatar to develop agile diplomacy to further develop bilateral relations with Quartet members.
It seems to have started with the announcement by Qatari Foreign Minister Mohammed Al-Thani that bilateral talks between Qatar and Egypt are underway. Saudi officials say the deal signals a desire to make AlUla a model of “sustainable development in the Middle East” and “a global laboratory with the support of UNESCO.” AlUla is the seat of several ancient civilizations that span more than 200,000 years. Saudi Arabia and the United Arab Emirates also had disagreements in July over the latter`s oil production rate within the Organization of the Petroleum Exporting Countries (OPEC). The UAE argued that the baseline was too low for its crude oil production quota, a claim rejected by Saudi Arabia. “The end of the blockade should encourage GCC tourists to return to Qatar when the pandemic finally subsides. This should help ease the pressure on the country`s struggling real estate and hospitality sectors, which are the biggest sources of asset quality issues for banks,” he added. Overall, the agreement will project a stronger, more united GCC front that will help the regional economy as a whole. .