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JLCC
- November 21, 2023
The Ministry of Commerce and Industry hosted an expanded meeting of the Minister of Commerce and Industry, Engineer Ahmed Samir, and his Saudi counterpart, Dr. Majid Al-Qasabi, with a delegation of Saudi investors and officials of the Federation of Industries and the Federation of Chambers of Commerce, in the presence of Dr. Iman Al-Mutairi, Saudi Deputy Minister of Commerce, Ambassador Osama bin Ahmed Al-Naqli, Saudi Ambassador to Egypt, and Ahmed Al-Wakeel, President. Federation of Chambers of Commerce, Dr. Bandar Al-Amiri, Head of the Saudi side at the Egyptian-Saudi Business Council, Minister Commercial Commissioner/Yahya Al-Wathiq Billah, Head of Commercial Representation, and Dr. Amani Al-Wasal, Head of the Foreign Trade and Agreements Sector.
The meeting reviewed investment opportunities and components in the Egyptian and Saudi markets and the possibilities for the private sector in both countries to benefit from these opportunities and translate them into concrete economic cooperation projects that are in the economic and people’s interest of the two countries.
The meeting discussed future work axes between the two countries to achieve joint industrial and commercial integration, which includes 3 main axes. The first axis aims to achieve industrial and investment integration between the two countries by developing a road map and action plan with specific time and opportunities to be promoted through the Joint Business Council, business federations and chambers. Trade in the two countries, which contributes to the integration of supply chains between Egypt and the Kingdom. The second axis also includes good marketing of projects and products in which cooperation between the two countries is possible.
The third axis includes developing an institutional framework for cooperation between the Egyptian and Saudi chambers of commerce and industry and business federations through an institutional working paper between the entities concerned with industry and trade in the two countries in order to organize frameworks for joint action between the two countries during the next stage.