Saudi-Egyptian cooperation to increase trade between the two sides

The Federation of Saudi Chambers of Commerce said Tuesday today that the strategy of the Saudi-Egyptian Business Council, which was formed, works to highlight the investment opportunities and incentives available between the two countries, to contribute to the protection of investments and strengthen agreements between the two countries.

Works to represent the business sector nationally, regionally and internationally in the Arab Republic of Egypt and works to show the true scale of Saudi investments in Egypt through official channels and works to strengthen them, in so that the Saudi-Egyptian Business Council becomes the true umbrella for the Saudi private sector in Egypt, in addition to strengthening the commercial and investment partnership between the two countries, and contributes to increasing exports between the two countries.

And the “Federation of Chambers” indicated that Saudi investments in Egypt are in steadily increasing, and about 6000 Saudi companies work in the Egyptian market, and the number of Egyptian companies investing in the Kingdom until the end of 2020 is about 1,200 companies, and the two sides are looking forward to increasing the trade movement between the two countries, citing Saudi Arabia news agency “SPA”.

The union indicated that efforts are being made to combine efforts between the Saudi-Egyptian Business Council and the Embassy of the Guardian of the Two Holy Mosques in Egypt to create an umbrella for the Saudi investor to preserve the earnings of Saudi companies and investors, as well as an agreement with the Egyptian General Investment Authority and Free Zones to limit the market value of Saudi investments in Egypt and form a team from follow-up And ways to present new opportunities between the two countries.

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