Egypt's exports to Saudi Arabia hit $1.99B in 2021

CAIRO - 17 March 2022:  Egypt’s exports to Saudi Arabia rose 17.4 percent during 2021 on an annual basis, to record about $1.99 billion, compared to about $1.69 billion in 2020, according to the Minister of Trade and Industry Nivine Gamea.

 

She pointed to the increase in the rates of trade exchange between the two countries in 2021, despite the negative repercussions of the emerging Coronavirus on various global economies, which reflects the peculiarity of Egyptian-Saudi relations at the official and popular levels.

 

This came during Gamea’s meeting with her Saudi counterpart Majid Al-Qasabi preparations for holding the Egyptian-Saudi Joint Committee that the Kingdom will host in the coming week.

 

The committee is set to be co-chaired by Egypt’s Gamea and Saudi Arabia’s Qasabi.

 

The minister said the joint committee represents a cornerstone for supporting bilateral relations in various fields and at all levels.

 

The two sides reviewed means of developing economic cooperation between the two brotherly countries and possibilities for strengthening joint efforts to address the current economic variables in the regional and international arenas.

 

For his part, the Saudi minister affirmed the Kingdom’s keenness to push economic cooperation between both countries to distinguished levels reflecting strategic bilateral relations binding Cairo and Riyadh.

 

He hailed the great developments that Egypt has recently witnessed, mainly as regards providing suitable infrastructure and an investment-friendly climate.