Saudi Arabia signed a deal on Monday to boost investment and trade ties with Belarus.

The memorandum of understanding (MoU), signed by the Federation of Saudi Chambers and the National Centre for Marketing and Price Study at the Ministry of Foreign Affairs of Belarus, looks to assist Saudi and Belarusian businesses in expanding their markets.

Under the MoU, the two countries are expected to share information related to trade, business environment, investment, production and export opportunities, according to the Saudi Press Agency (SPA).

Saudi and Belarus will also hold joint research to boost trade prospects and find ways to improve cooperation, facilitate participation in trade fairs, hold economic events and forums and exchange trade delegations.

They will provide support to investors, secure business contacts, hold training seminars and exchange experience related to the use of information technology to boost trade.

(Writing by Cleofe Maceda; editing by Brinda Darasha)