Deals Worth $1.5 Billion Expected to Boost Saudi-Egypt Economic Ties 🫱🏽‍🫲🏻

Saudi Arabia and Egypt are set to strengthen their economic cooperation with the anticipated signing of agreements worth $1.5 billion during the Egyptian-Saudi Business Forum scheduled for November 20 in Cairo. Aligned with Egypt’s broader goal of attracting foreign investments, particularly from Gulf countries, the deals are expected to focus on key sectors such as energy, real estate, agriculture, and tourism. Turki Al-Hokair, a member of the Egyptian-Saudi Business Council, highlighted the historical ties between the two nations, emphasizing the complementarity in various economic fields. The forum, coinciding with the visit of Saudi Commerce Minister Majid bin Abdullah Al-Qasabi, signifies the commitment of both nations to fostering long-term economic partnerships. Simultaneously, the inaugural Gulf-Egyptian Business Forum, scheduled for November 22-23 in Cairo, aims to strengthen economic bonds between Egypt and Gulf Cooperation Council (GCC) countries, building on the already substantial trade relationship that exceeded $30 billion in 2022. With over $62 billion in Gulf investments and the participation of more than 8,500 Gulf companies in Egypt, the forum is poised to contribute significantly to the economic landscape of both regions.