Latest news with #Saudi-EgyptianBusinessCouncil
Egypt Today
29-04-2025
- Business
- Egypt Today
FM: strategic Egypt-Saudi Arabia cooperation supports regional stability, economic integration
CAIRO – 29 April 2025: Egypt's Minister of Foreign Affairs, Emigration and Expatriates Badr Abdelatty emphasized the importance of continued coordination between Egypt and the Kingdom of Saudi Arabia to confront regional challenges and reinforce regional security and stability in line with the directives of President Abdel Fattah El Sisi and Saudi King Salman bin Abdulaziz and Crown Prince Mohammed bin Salman. This statement came during the minister's meeting on Tuesday with Mohammed Al-Tuwaijri, Secretary of the Egyptian-Saudi Supreme Coordination Council, who is currently visiting Cairo. The top diplomat expressed Egypt's deep appreciation for the enduring fraternal bonds and the historical relations that unite Egypt and Saudi Arabia. He underscored Egypt's eagerness to advance bilateral cooperation across multiple sectors and highlighted the importance of launching the Egyptian-Saudi Investment Forum as a significant step toward enhancing economic relations between the two countries. The minister also stressed the value of optimizing existing institutional economic frameworks and enhancing bilateral exchanges at senior levels. He welcomed the recent visit by members of the Saudi-Egyptian Business Council and the Federation of Saudi Chambers to Cairo from April 12 to 14, with the aim of exploring investment opportunities. He noted the importance of building upon the outcomes of that visit to further expand Saudi investments in Egypt. He reaffirmed Egypt's commitment to addressing the needs of Saudi investors and business leaders by ensuring a favorable and competitive investment climate within the Egyptian market. Additionally, he expressed interest in deepening cooperation with Saudi Arabia in the fields of digital transformation, technological infrastructure, and the localization of advanced industries, including those in the pharmaceutical and medical sectors. He also underscored the importance of strengthening partnerships in housing and real estate development, building on the joint successes already achieved in these areas.
The National
21-04-2025
- Business
- The National
Egypt and Saudi foreign ministers discuss strengthening ties
Egypt 's Foreign Minister Badr Abdelatty visited Riyadh on Monday for talks with his Saudi counterpart, Prince Faisal bin Farhan, on strengthening bilateral ties and co-ordinating on critical regional issues, including the war in Gaza. Mr Abdelatty and Prince Faisal later chaired the annual meeting of the Egypt-Saudi Political Consultation and Follow-Up Committee. Both sides highlighted the growing ties between the two countries and their commitment to advancing economic, political and cultural co-operation in line with the directives of Egypt's President Abdel Fattah El Sisi, and Saudi Arabia's King Salman and Crown Prince Mohammed bin Salman, said an Egyptian Foreign Ministry statement. The discussions centred on increasing economic and investment ties. Mr Abdelatty stressed the importance of maximising institutional frameworks and facilitating high-level exchanges between officials and business leaders from both countries. He referenced the visit of the Saudi-Egyptian Business Council and the Federation of Saudi Chambers to Cairo this month to explore investment opportunities in Egypt. Both sides announced plans to launch an Egyptian-Saudi Investment Forum and activate the "High Co-ordination Council" for bilateral co-operation, the statement said. Mr Abdelatty also outlined Egypt's efforts to attract Saudi investment, citing financial and tax reforms as well as incentives for foreign investors, and stressed the importance of economic integration, particularly in industrial development. He proposed aligning Egypt's Vision 2030 with Saudi Arabia's Vision 2030 to enhance their collaboration. On regional issues, the ministers discussed the war in Gaza and underscored the urgent need for a ceasefire and to address the deteriorating humanitarian conditions. They rejected the forced displacement of Palestinians and reviewed plans for reconstruction efforts in Gaza, including an international conference to be co-hosted by Egypt, the Palestinian government and the United Nations. The talks also covered developments in Sudan, Syria, Lebanon, Yemen and the Horn of Africa, with both sides reaffirming their shared commitment to regional security and stability. The Egyptian Foreign Ministry said maritime security in the Red Sea − where commercial vessels face the threat of attacks by Yemen's Houthi rebels − was also addressed as part of broader discussions on ensuring safe navigation in the region.
Asharq Al-Awsat
12-03-2025
- Business
- Asharq Al-Awsat
Egyptian Parliament Approves Investment Protection Agreement with Saudi Arabia
The Egyptian Parliament has approved a bilateral agreement with Saudi Arabia aimed at promoting and protecting mutual investments between the two countries, as well as strengthening their economic ties. According to the Saudi Chambers Federation's account on platform 'X,' the agreement seeks to create optimal conditions for investment exchange between investors from both nations. Among the anticipated benefits of the agreement are the establishment of a secure and attractive investment environment, an increase in capital flows and investments, and the creation of more job opportunities. The agreement has received strong support from the leaderships of both countries, as well as ministers, ambassadors, the Saudi Chambers Federation, and the Saudi-Egyptian Business Council.
