The Saudi-Egyptian Joint Committee’s follow-up team recently held its first meeting in Cairo to address the recommendations from the committee’s 18th session. Chaired by Abdulaziz Al-Sakran from the Saudi General Authority of Foreign Trade and Dr. Amani Al-Wasal from the Egyptian Ministry of Industry and Trade, the meeting focused on monitoring the implementation of strategic directions, reviewing progress on joint committee recommendations, identifying challenges and proposing solutions, and exploring new opportunities to strengthen bilateral economic relations.
Trade between Saudi Arabia and Egypt saw a notable increase in the first half of 2024, reaching approximately $8 billion, a 41% rise compared to the same period last year. Key Saudi exports to Egypt included metal products, plastics, and their derivatives, while prominent Egyptian imports comprised metal products, copper, and their derivatives. The meeting gathered Saudi representatives from various ministries, including commerce, energy, culture, investment, education, and health. Representatives from the Saudi Central Bank, the General Authority of Foreign Trade, the Saudi Conventions and Exhibitions General Authority, and other key organizations also participated.
The discussions at the meeting focused on strengthening economic ties between Saudi Arabia and Egypt, with an emphasis on trade and investment. Both countries are committed to implementing strategic directions and recommendations to further enhance their economic relations. Challenges were identified, and possible solutions were proposed to overcome them. The meeting also explored new opportunities for collaboration in key sectors such as industry, tourism, and agriculture to continue fostering economic growth and development.
Partnership between Saudi Arabia and Egypt is crucial for both countries in achieving their economic goals and advancing their respective economies. The $8 billion trade volume between the two nations in the first half of 2024 demonstrates the strong economic relationship and the potential for further growth. By working together to address challenges and capitalize on opportunities, Saudi Arabia and Egypt can continue to benefit from each other’s strengths and resources.
The participation of representatives from various Saudi ministries and organizations at the meeting highlights the importance of collaboration across different sectors to promote economic cooperation between the two countries. By leveraging each other’s expertise and resources, Saudi Arabia and Egypt can explore new avenues for cooperation and enhance their mutual economic interests. The meeting served as a platform for sharing ideas, addressing challenges, and fostering a stronger partnership between the two nations.
In conclusion, the recent meeting of the Saudi-Egyptian Joint Committee’s follow-up team in Cairo was a significant step towards strengthening economic ties between the two countries. The discussions focused on monitoring the implementation of strategic directions, reviewing progress on joint committee recommendations, identifying challenges and proposing solutions, and exploring new opportunities for collaboration. By working together to address challenges and capitalize on opportunities, Saudi Arabia and Egypt can further enhance their economic relations and continue to benefit from their strong partnership.
