CAIRO - 17 December 2024: Egypt and Saudi Arabia signed a supply chain agreement between Egypt’s El-Tawkel for Iron Industries and Galvanization and Saudi Arabia’s Falak Al-Aamal Company to boost industrial collaboration between both countries. The agreement focuses on manufacturing and supplying telecommunications towers for the Saudi market, with plans to expand into broader industrial projects.
The signing of the agreement was witnessed by Egypt’s Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, Kamel El-Wazir, and Saudi Arabia’s Minister of Industry and Mineral Resources, Bandar Ibrahim Al-Khorayef.
This agreement aims to enhance specialized steel industries, galvanization processes, and the production of telecommunications towers, while supporting participation in government and public sector tenders within the Saudi market. The partnership also opens the door for future cooperation in a wide range of industrial products.
El-Wazir and Al-Khorayef discussed enhancing industrial cooperation and integration between Egypt and Saudi Arabia. The talks aimed to explore opportunities for joint projects that will boost trade and industrial development between the two nations.
During the discussions, El-Wazir emphasized the strong political and economic ties between Egypt and Saudi Arabia. He highlighted Egypt’s openness to collaboration with Arab nations to advance industrial growth, describing it as a key driver of sustainable development. He stressed the importance of establishing joint factories and logistics hubs in both countries to achieve industrial integration and increase trade volume, particularly given the strategic geographic locations of Egypt and Saudi Arabia and their extensive transport networks.
El-Wazir pointed to opportunities in specific sectors that could drive bilateral cooperation, including aluminum manufacturing to meet Egypt’s growing domestic demand, joint production of automotive components such as tires, wiring harnesses, frames, and brakes, as well as ventures in petrochemicals and renewable energy equipment, including solar and wind power components and green hydrogen infrastructure.
Other areas of focus include polyester production, pharmaceutical manufacturing—particularly active ingredients for critical and chronic disease treatments—and the expansion of Saudi food industries within the Egyptian market. El-Wazir noted that Egypt offers ready industrial land, skilled labor, and essential resources to support these initiatives.
Saudi Minister Bandar Al-Khorayef underscored the importance of industrial integration between the two nations, noting their shared geographical advantage on the Red Sea and significant natural resources. He called for turning the strong relationship between the two governments into tangible projects that create jobs and boost both economies. Al-Khorayef emphasized the role of joint working groups from the respective ministries in advancing supply chain integration, advanced manufacturing, and workforce development.
Both ministers agreed to hold further meetings between Egypt’s Industrial Modernization Center and Saudi Arabia’s Export Development Authority to outline a roadmap for deepening industrial cooperation and addressing shared priorities.
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