Egypt-Saudi Business Council Forum Meeting Held: 800 Saudi Companies Operating in Egypt

(3 Minutes Read)

 In 2023, the bilateral trade volume reached nearly USD 13 billion. Of this, Egyptian exports to the Kingdom accounted for USD 5.3 billion, while imports from Saudi Arabia totaled around USD 7.5 billion. Egypt is now Saudi Arabia’s seventh-largest trading partner, while Saudi Arabia holds the position of Egypt’s third-largest partner.

Egypt’s Minister of Agriculture and Land Reclamation, Alaa Farouk, participated in the Egyptian-Saudi Business Council Forum. During the event, he emphasised the growing partnership between the two nations, particularly in trade and agriculture.

Farouk revealed that more than 800 Saudi companies are currently operating in Egypt, with total investments reaching approximately USD 34 billion. On the other hand, over 6,830 Egyptian companies are active in the Saudi market, investing close to USD 5 billion.

Read Also:

https://trendsnafrica.com/egypts-foreign-trade-finance-ministry-to-jointly-implement-29-jvs/

Trade relations between the two countries remain robust. In 2023, the bilateral trade volume reached nearly USD 13 billion. Of this, Egyptian exports to the Kingdom accounted for USD 5.3 billion, while imports from Saudi Arabia totaled around USD 7.5 billion. Egypt is now Saudi Arabia’s seventh-largest trading partner, while Saudi Arabia holds the position of Egypt’s third-largest partner.