Today in Cairo, Egyptian Prime Minister Dr. Mostafa Kamal Madbouly met with Saudi Minister of Commerce Dr. Majid bin Abdullah Al-Qasabi to discuss enhancing the economic and commercial ties between the two nations. The Saudi Ambassador to Egypt, Osama bin Ahmed Nugali, also attended the meeting.
Leading a delegation of around 90 prominent Saudi businessmen and corporate leaders, Al-Qasabi's visit is focused on fostering bilateral trade and investments. This visit includes strategic meetings with key Egyptian ministers and officials, including Engineer Ahmed Samir, Minister of Trade and Industry; Dr. Rania Abdel-Moneim El-Mashat, Minister of International Cooperation; Dr. Assem El-Gazzar, Minister of Housing, Utilities and Urban Communities; and Mr. Hossam Heiba, CEO of the General Authority for Investment and Free Zones.
In their recent meetings, the delegates focused on boosting bilateral trade, aligning with the economic reforms both countries have undertaken. A key part of their agenda was to enhance trade relations with African nations and to collaborate on transforming the region into a global logistics center.
Dr. Al-Qasabi spearheaded discussions on exploring new opportunities in crucial sectors, in line with Saudi Arabia's Vision 2030. The talks centered on fostering joint ventures, overcoming challenges in these collaborations, and providing support for business establishments in free zones. Additionally, they emphasized the importance of digital transformation in small and medium-sized enterprises, aiming to boost cooperation in programs that facilitate this transition.
The agenda for tomorrow includes meetings with Dr. Heba Shaheen, Executive Director of the Business Climate Reform Initiative in Egypt (IRADA), and Mr. Seif Allah Fahmy, Chairman of the Egyptian National Competitiveness Council. These meetings will delve into competitive business models, regulatory reforms, and their impact on the business environment, as well as ways to leverage Saudi Arabia's experience in these areas.
Additionally, the Saudi delegation is set to participate in the Saudi-Egyptian Business Forum, an event aimed at highlighting economic reforms and their effects on business environments, with a focus on increasing economic activity attractiveness and ease. The forum is a collaborative effort between the National Competitiveness Center, the Council of Saudi Chambers, the General Federation of Egyptian Chambers of Commerce, and the Saudi-Egyptian Business Council, highlighting the ongoing commitment to strengthening business partnerships between Saudi Arabia and Egypt.