People visit the China Defense exhibition area of the first World Defense show in Riyadh, Saudi Arabia, March 6, 2022. (PHOTO / XINHUA)

RIYADH - Three tech firms from Saudi Arabia and China on Wednesday signed a memorandum of understanding to collaborate on the development of innovative space technologies, satellites, artificial intelligence (AI) and geospatial products.

The three companies, TAQNIA ETS and TAQNIA SPACE from Saudi Arabia and STAR.VISION from China, agree to engage in collaborative research and development to introduce localized innovative services and products that will support the strategic space and geospatial industry in Saudi Arabia and the region.

The signing of a memorandum of understanding took place on the last day of the World Defense Show in Riyadh that commenced on Sunday

As the leading geospatial company in Saudi Arabia, TAQNIA ETS was keen to sign the MoU and to collaborate with STAR.VISION to utilize AI in producing high resolution and accuracy geospatial products that are compatible with the unique topographic and geographic features of Saudi Arabia, said Abdulaziz S. Al-Farraj, CEO of TAQNIA ETS.

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Fan Lianghua, co-founder of STAR.VISION, said his company "looks forward to bringing its expertise in the space sector and AI applications to Saudi Arabia, and enable the young Saudi talents in these fields."

The signing took place on the last day of the World Defense Show in Riyadh that commenced on Sunday.

Founded by Saudi Arabia's General Authority for Military Industries, the event showcases the latest technological developments around the world and provides a platform for networking, collaboration, knowledge-sharing and discovery of new innovations.

READ MORE: Chinese, Saudi Arabian foreign ministers discuss cooperation

Eight Chinese companies -- China Aerospace Long March International Trading Co (ALIT), China National Precision Machinery Import & Export Corporation, China National Aero-Technology Import & Export Corporation, China Shipbuilding Trading Co Ltd (CSTC), China North Industries Corp (NORINCO), CETC International Co Ltd, ELINC China Co Ltd (ELINC), and Poly Technologies Inc - joined the exhibition.