Saudi king visit boosts Egypt economic ties

Saudi Arabia's King Salman is currently on his second day in Egypt in an official state visit. (SPA)

The Saudi-Egyptian Business Council held a session on Thursday as Saudi Arabia’s King Salman enters his second day during a five-day visit to the Egyptian capital.

Addressing the meeting, Egypt’s Minister of Trade and Industry Tareq Qabil said the strategic relations between the two countries will help realize mutual benefits for both the countries.

“We are keen on creating an appropriate atmosphere to develop bilateral relations in all fields and at all levels. The meeting aimed at deepening cooperation and encouraging dialogue between Saudi and Egyptian companies,” he said while urging Saudi investors to make more investments in the Egyptian market and take advantage of the available opportunities.

On her part, Egypt’s Minister of Investment Dalia Khorshid said that the government is keen to solve any problems and hurdles facing the Saudi business community in Egypt.

VIDEO: Egypt shows depth of relation with Saudi Arabia

“The government gives top priority to further improve the investment climate and continue close interaction with Saudi businessmen and investors,” she added.

Abdurahman al-Zamil, chairman of the Council of Saudi Chambers, said that Saudi investors consider Egypt as their second market after the Kingdom, and it is an important export center for all the surrounding markets in the Arab, African and European regions.

The two-day preparatory meetings of the 15th session of Saudi-Egyptian Joint Committee concluded on Thursday. Ahmad al-Haqbani, undersecretary of Ministry of Commerce and Industry for external trade, led the Kingdom’s delegation to the meetings. In his speech, al-Haqbani highlighted King Salman’s keenness in enhancing relations between the two countries in all fields.

This article first appeared in the Saudi Gazette on Apr. 08, 2016.

Last Update: 07:43 KSA 10:43 - GMT 07:43