Egyptian - Saudi Arabia to strengthen economic ties

The Egyptian - Saudi supreme committee will convene its meetings under the chairmanship of the two countries' foreign ministers during the second half of coming October to discuss increasing investment and economic cooperation.

Mostafa Nofal, the Egyptian commercial authorized minister in Saudi Arabia said that "the meetings will discuss establishing a free trade zone between the two countries, resuming some customs and financial policies, the cooperation between the two investment organizations in Egypt and Saudi Arabia and discussing a joint company to run Safaga/Daba line with its maritime and land sides."

He said that the supreme committee will also discuss means of cooperation in the measure unification fields, clarifying that the coming week will witness some occasions which aim at vitalizing the investment and commercial exchange as well as pushing forward the economic relations between the two states, referring to that it was agreed upon convening the third conference for the Egyptian and the Saudi businessmen in Alexandria city (Egypt) during the second half of coming November in the participation of 500 businessmen in the two states to discuss establishing some investment projects and to sign the understanding note between the commercial chambers between the 2 states.