Monaco has moved to deepen economic cooperation with Saudi Arabia following a high-level business mission to Jeddah, led by the Monaco Economic Board (MEB) and the Principality’s Delegate for Attractiveness, Ludmilla Raconnat Le Goff.

The visit brought together representatives from 34 Monegasque companies spanning sectors such as yachting, finance, tech, real estate and law, in what officials describe as a significant step toward forging long-term partnerships in the Gulf region.

Speaking during the trip, Raconnat Le Goff said both countries were keen to pursue “ambitious, sustainable collaborations” in strategic sectors, adding that Monaco’s agility and expertise make it well-placed to respond to Saudi Arabia’s fast-developing market.

The mission included meetings with business leaders and institutions in Jeddah, with a memorandum of understanding signed between the Saudi and Monegasque chambers of commerce. Events were also held at the Jeddah Yacht Club and KAUST, one of the region’s most advanced research hubs.

A workshop on doing business in the Kingdom offered guidance on navigating Saudi regulations, featuring speakers from Informa, organisers of the Monaco Yacht Show.

The trip ended with a visit to the Jeddah Central Development Company, the body overseeing the city’s vast seafront transformation project.

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Photo source: MEB