Egypt, Saudi Arabia mull road map for economic relations

CAIRO - 4 May 2018: Minister of Trade and Industry Tareq Kabil said Egypt and Saudi Arabia are an equalizing force that maintains stability in the Middle East and the Arab World.

The outcome of the Egyptian-Saudi joint committee represents a new road map for economic and trade relations between Cairo and Riyadh, Kabil added during a meeting with his Saudi counterpart Majid al Qasabi ahead of leaving Riyadh.

Kabil led Egypt’s delegation to the 16th session of the Egyptian-Saudi joint ministerial committee.

The Egyptian minister noted that achieving economic integration between Cairo and Riyadh is not only a political will, but a popular desire as well, the Ministry of Trade and Industry said in a statement Friday.

The governments of Egypt and Saudi Arabia seek to foster bilateral cooperation and improve business climate in a way that helps establish partnership between private sectors in both countries, Kabil said.

There is great accord on the economic policies in both countries, he added, pointing out to the all-out economic reform program carried out in Egypt in addition to the bold measures recently taken by Saudi Arabia to develop its economic system.