Agreements Worth $4.3 Billion Announced At Global Logistics Forum 2024

The inaugural edition of the Global Logistics Forum 2024, convened by Saudi Arabia's Ministry of Transport and Logistic Services, has concluded in Riyadh. The event has witnessed the signing of over 65 agreements, with a total value exceeding SAR 16 billion ($4.3 billion).

Over 130 experts and leaders in the global transport and logistics sector, as well as 13,000 visitors, participated in the forum. Among the attendees were over 15 ministers and 77 leaders in the transport and logistics industry from more than 30 countries. The forum provided a global platform for discussing the opportunities and challenges of creating a sustainable logistics sector by unifying ecosystem partners to improve efficiency, flexibility, and sustainability. 

Saudi Arabia's Ministry of Transport and Logistic Services, in collaboration with the Ministry of Investment, announced several significant agreements and memoranda of understanding with various firms, including FedEx, Pacific International Lines, and the Saudi Ports Authority (Mawani), reported the Saudi Press Agency. 

Additionally, the Transport General Authority (TGA) and the Egyptian Ministry of Transport also signed a memorandum of understanding aimed at strengthening joint cooperation between the two nations in the field of maritime linkage. The forum also highlighted Saudi Arabia's prominent position in the global logistics sector and its vital role in ensuring the security of global trade.