By MENA

Copyright egyptindependent

CAIRO, Sept 18 (MENA) – Minister of Foreign Affairs, Emigration and Egyptian Expatriates Badr Abdelatty on Thursday reaffirmed Egypt’s commitment to removing any obstacles facing Saudi investors and to providing a supportive and attractive climate for sustainable investment, in line with presidential directives to strengthen cooperation with Saudi Arabia.

During his meeting in Riyadh with Saudi Minister of Commerce Majid Al Kassabi, Abdelatty expressed deep appreciation for his pivotal role in enhancing the longstanding strategic partnership between the two countries, while commending the close coordination with Egypt’s minister of investment and foreign trade in advancing bilateral relations.

Both ministers underlined the importance of building on the growing momentum in economic ties, with Saudi Arabia being Egypt’s second largest global trade partner and its largest Arab partner.

Trade between the two countries has witnessed steady growth in recent years.

Abdelatty voiced Egypt’s aspiration to double trade volumes and broaden partnerships, particularly in innovation, technology, startups, and digital applications.

He stressed the importance of expanding direct Saudi investments in Egypt, especially in supply chains, manufacturing, technology localization, services trade, and transit, leveraging Egypt’s strategic geographic position as a gateway to African markets, and its preferential trade agreements with the EU and regional blocs.

Abdelatty also highlighted Egypt’s recent comprehensive economic and legislative reforms to improve the investment climate, led by the National Investment Strategy 2024-2030.

Both sides agreed to continue coordination and institutional cooperation to consolidate economic partnership and serve the interests of both peoples. (MENA)