Saudi Gazette report

RIYADH — Minister of Commerce Dr. Majid Al-Qasabi underscored the Kingdom's intent to strengthen trade relations with Egypt at the 18th session of the Saudi-Egyptian Joint Committee, co-chaired with Egypt's Minister of Trade and Industry, Eng. Ahmed Samir.

The session, which wrapped up in Riyadh on Monday, aimed at reinforcing the economic bonds between the two nations.

In his address, Al-Qasabi highlighted the strategic moves to enhance bilateral trade, including facilitating exchanges between the private sectors and organizing trade exhibitions to open up more opportunities and increase Saudi exports to Egypt.

These efforts underscore a deep commitment to fostering a closer economic relationship.

The meeting concluded with the signing of agreements to monitor the implementation of recommendations and initiatives designed to bolster cooperation.

This session was particularly focused on overcoming challenges that hinder the joint committee's effectiveness, ensuring the approval of its operations, and setting up regular meetings with relevant authorities to promote coordinated actions.

Trade between Saudi Arabia and Egypt reached a significant milestone, with exchanges totaling about $11.8 billion up to November 2023.

Key exports to Egypt were predominantly mineral products, while imports included mineral products and fruits, indicating a flourishing trade relationship.