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Saudi Arabia & Qatar to drink chai together once againMENA

Saudi Arabia & Qatar to drink chai together once again

Saudi Arabia has lifted its embargo on Qatar, which was imposed in 2017. Accordingly, The Kingdom would be opening its airspace, land, and maritime borders to Qatar once again.

Kuwait’s foreign minister made the announcement, as the GCC Sumit takes place.

Qatar stocks went up 1.7% since the announcement.

why it matters
This diplomatic decision is a step forward in reestablishing ties among the Gulf states. A more allied GCC union would have a positive ripple effect on businesses in the region that aim to serve all gulf states seamlessly.