Saudi Gazette report

Cairo — The Saudi-Egyptian Business Council decided to create a joint committee comprising businessmen from both sides to hold talks with Egyptian Minister of Investment Sahar Nasr and Minister of Trade and Industry Amr Nassar to remove all hurdles facing investors.

This was stated by Saudi Minister of Commerce and Investment Majed Al-Qassabi while addressing the Saudi-Egyptian Business Council in Cairo on Tuesday.

He said the volume of trade exchange between the two countries reached $7.3 billion while the volume of Saudi direct investment in Egypt accounted for $3.4 billion.

There are 5,000 Saudi companies operating in Egypt which shows the strength and depth of bilateral ties.