Cairo – Mubasher: Egypt and Saudi Arabia are currently in talks over launching a joint industrial cooperation strategy, the Egyptian minister of trade and industry Tarek Kabil revealed.
This strategy aims at achieving integration between the industrial sectors of both parties, Kabil added in a statement.
The minister affirmed the importance of benefiting from the industrial capabilities owned by the two countries, which will consequently leave a positive impact on both countries’ citizens.
This came as part of Kabil’s meeting with Saudi minister of trade and investment Majid bin Abdullah Al-Qasabi on the sidelines of the World Trade Organization (WTO) ministerial consultative meeting, currently being held in Morocco’s Marrakesh.
Kabil indicated that this meeting highlighted the importance of enhancing the business climate of both parties for investors through activating the role of the Egyptian-Saudi business council.
Egyptian investments in the Saudi market amounts to about $2.5 billion in 1,300 projects, he mentioned.
Kabil further noted that the trade exchange between Egypt and Saudi Arabia amounted to $4.3 billion in 2016.
