Egyptian-Saudi committee meets next April
Egypt-Saudi Arabia, Economics, 12/12/1997

The Joint Egyptian-Saudi Committee will meet in Cairo in April under the chairmanship of the foreign ministers of the two countries, Amr Moussa and Prince Saud Al Faisal.

The committee will discuss the steps necessary for setting up the free trade zone between the two countries and for boosting the two countries' relations in a number of fields. The committee will also study the possibility of renewing the Agreement of the Investment and Trade Cooperation which had been signed in March 1990, by virtue of which 61 Egyptian commodities were exempted from Saudi taxes, while 53 Saudi commodities were exempted from Egyptian taxes.

The two sides will also discuss the possibility of developing trade cooperation protocols between the two countries which had been signed in 1992 in order to add new commodities to the existing tax-free commodities list. The two sides will also discuss the implementation of the Specifications and Criteria Agreement between the two countries which came as a result of the meetings between the Egyptian Minister of Trade Ahmed Gweily and his Saudi counterpart Dr. Osama Fakiah last October. This agreement aims to remove all obstacles that hinder the application of the specifications on exported commodities of the two countries.

On the other hand, the head of the Egyptian Chambers of Commerce Confederation Dr. Mahmoud Al Arabi confirmed that the Saudi-Egyptian Businessmen Board is trying to find the necessary land for setting up the new projects in the two countries, in addition to assisting the two countries' investors in all fields. He pointed to the fact that the board assists investors in setting up their projects according to the laws applied in the two countries.

Previous Stories:
  Made in Saudi Arabia exhibition opens   (11/21/1997)
  Saudi - Egyptian free trade zones   (11/19/1997)
  Saudi businessmen will head to Cairo to set up investment companies   (9/26/1997)

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