Saudi And Egypt Commit To Strengthening Trade Ties In Latest Joint Committee Session

The 18th session of the Saudi-Egyptian Joint Committee, a pivotal meeting aimed at bolstering trade relations between Saudi Arabia and Egypt, concluded today in Riyadh. The session was co-chaired by Dr. Majid bin Abdullah Al-Qasabi, the Saudi Minister of Commerce and Chairman of the Board of Directors of the General Authority for Foreign Trade, alongside Ahmed Samir, the Egyptian Minister of Industry and Trade. This significant gathering underscored both nations' commitment to enhancing their economic ties through various strategic initiatives.

Dr. Al-Qasabi highlighted the Kingdom's dedication to fostering stronger trade relations with Egypt. He emphasized the importance of exchanging visits between the private sectors and organizing trade exhibitions to showcase opportunities and augment Saudi exports to Egypt. The session culminated with Dr. Al-Qasabi signing the minutes of the first meeting of the working group dedicated to following up on the recommendations made during this gathering. These recommendations are aimed at reinforcing collaborative efforts between Saudi Arabia and Egypt.

The trade volume between the two countries has been substantial, reaching approximately $11.8 billion up until November 2023. The exchange primarily involves metal products, plastics, and their derivatives exported to Egypt, with metal products and fruits being the most significant imports from Egypt to Saudi Arabia.

The 18th session of the Saudi-Egyptian Joint Committee is in line with the strategic orientations of both nations. It seeks to address challenges through periodic meetings involving concerned entities, ensuring the follow-up on the implementation of recommendations and overseeing the committee's work effectively.

With inputs from SPA