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Saudis businessmen in Cairo to boost trade
Saudi Arabia, Business, 10/11/1997
Saudi-Egyptian meetings started today in Cairo to boost the volume of the trade exchange between the two countries.
The Saudi delegation is headed by the former Saudi Minister of Electricity and Industry Abdel Aziz Al Zamil. The Saudi delegation comprises more than 25 representatives of Saudi establishments in addition to 30 important businessmen.
The Saudi delegationšs visit to Cairo will last for 5 days till 15 October. The Egyptian - Saudi meetings aim to identify the needs of the Egyptian market for Saudi products and also to identify the latest Egyptian products that could be exported to the Saudi market. This bilateral identification will make it possible for the two countries to set up joint projects and to sign trade transactions.
The volume of the trade exchange between the two countries during the past 5 years reached $4 Billion. The volume of the exchanged products between the two countries during the first half of the current year is estimated at $204 million. The Egyptian exports to the Saudi market is estimated at $53 million while the imports from the Saudi market is estimated at $151 million. The Egyptian trade balance deficit with Saudi Arabia is estimated at $98 million.
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