Eng. Mohamed Zaki El Suwaidi, Chairman of the Federation of Egyptian Industries, discussed with a Saudi delegation headed by Dr. Sami bin Abdullah Al-Obaidi, Chairman of the Board of Saudi Chambers, the consolidation of trade and investment relations between the two countries.

Al-Suwaidi reviewed Egypts economic, legislative and security developments, which created an attractive investment environment and contributed to raising Egypts rating, according to reports from various international bodies, led by the World Bank.

Al Suwaidi pointed to the importance of intensifying efforts to deepen trade and industrial integration not only for the growth and prosperity of the economy and markets of the two brotherly countries, but also to be able to enter African markets, especially as Egypt assumes the presidency of the African Union this year. Such as COMESA and others.

Al-Obeidi expressed his happiness with the meeting and confirmed his agreement with Al-Suwaidi. The visit coincided with the visit of the delegation to attend the Fourth Egypt Investment Forum under the heading "Together to Africa." He noted that he was pleased with the growth of Saudi investments in Egypt, Saudi private sector, hoping to increase them to fit the status of the two countries.

At the end of the meeting, the two parties agreed to work in the coming period on creating opportunities for Egyptian and Saudi companies to get acquainted with each other in all sectors, study new areas of cooperation and build on the existing successes and partnerships by visiting companies from Egypt and the Kingdom to their counterparts. Visits from the companies of the Saudi side to Egypt, especially the industrial zones and new cities to study the investment opportunities available in it, as well as visiting delegations from Egypt to the Kingdom to introduce the sectors and areas of promising investment in Egypt.

The two sides also decided to appoint each of them as a dedicated and specialized officer to be the link between companies and industrial and commercial establishments from both countries and to respond to all queries and to exchange information and data that the business community may need to facilitate their work.

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The Chamber is established by the Republican Decree No. 453 of 1958, which is one of the 20 industrial chambers of the Federation of Egyptian Industries, which includes about 4000 members, by virtue of the establishment decision, it covers the engineering industries sector in Egypt through 10 divisions.

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