Saudi, Egyptian Private Sectors Linked to Revitalize Business

Saudi, Egyptian Private Sectors Linked to Revitalize Business

Official information revealed a new directive issued by the Federation of Saudi Chambers called on the private sector to view an e-guide for members of the Egyptian Businessmen Association in a step to facilitate communication between the two parties.

Saudi Commerce Minister Majid Al-Qasabi had confirmed that Saudi Arabia aims to be the first trading partner for Egypt during the next five years.

He noted that there are 6,200 Saudi companies in Egypt with investments exceeding $30 billion, in addition to the presence of 274 Egyptian brands and more than 574 companies in Saudi markets.

According to the information, the latest step comes within the framework of the continuous cooperation between the two countries to enhance trade relations and revitalize business between Egyptian companies and their Saudi counterparts.

Therefore, the Egyptian Businessmen Association, a “non-governmental and non-profit entity,” launched an e-directory that includes detailed data for its members.

The Saudi-Egyptian Joint Committee in Cairo had recently held its 17th session, co-chaired by Al-Qasabi and Egyptian Minister of Trade and Industry Neveen Gamea in the presence of government officials representing various sectors in the two countries.

During his speech at the inauguration ceremony, Al-Qasabi conveyed the greetings of the Custodian of the Two Holy Mosques King Salman