CAIRO — The Federation of Saudi Chambers (FSC) here Tuesday organized the meeting of the Saudi-Egyptian Business Council in conjunction with the visit of Crown Prince Mohammed Bin Salman, deputy prime minister and minister of defense, to Egypt.

Minister of Commerce and Acing Minister of Media Dr. Majid Al-Qasabi, Minister of Investment Khalid Al-Falih and a high-level delegation of 58 Saudi businesspeople participated in the event.

FSC President Ajlan Al-Ajlan, in a speech, noted that the conjunction of holding the meeting with the visit of the Crown Prince, reflects Saudi Arabia’s keenness to enhance relations in all fields, mainly the economic ones.

He pointed out that the Saudi-Egyptian relations are characterized by expandability and growth in a remarkable way in the future due to what the two countries enjoy of economic advantages and competitive characteristics.

Al-Ajlan stressed that the forum represents an important step towards enhancing and activating economic cooperation between Saudi and Egyptian businesspeople in a way that meets the aspirations of the two countries’ leaderships and peoples.

He noted that the trade exchange volume between the two countries in 2021 grew by more than 87% to SR54 billion compared with 2020, where joint investment over the past five years increased to more than $35 billion.

He also praised the role of the council in realizing strategic achievements and projects, enhancing relations, increasing the commercial exchange and developing joint investments.

FSC organized the meeting to discuss the role of the council in enhancing commercial and investment partnerships between the two countries. — SPA