Permanent Court of Arbitration signs a Memorandum of Understanding with the Kingdom of Saudi Arabia

On 6 March 2024, the Secretary-General of the Permanent Court of Arbitration (“PCA”), Dr. hab. Marcin Czepelak, and the Vice Minister of Foreign Affairs of Saudi Arabia, H.E. Mr. Waleed bin Abdulkarim El-Khereiji, signed a Memorandum of Understanding between the PCA and the Government of the Kingdom of Saudi Arabia, setting the stage for the conclusion of a Host Country Agreement (HCA) by the end of 2024.

In the Memorandum of Understanding, the PCA and the Kingdom of Saudi Arabia have affirmed their commitment to continue the HCA negotiations, including on the privileges and immunities to be accorded to the PCA, its staff, and arbitrators and other participants in PCA-administered proceedings held in the Kingdom, and on an ambitious implementation plan which foresees an exchange of comments on the text of the draft HCA before the end of the second quarter of the year 2024 and the conclusion of the HCA by the end of 2024.