Saudi - Egyptian free trade zones

The joint Saudi - Egyptian higher committee, chaired by the foreign ministers of both countries, will convene in April to pore over the executive measures of establishing free trade zones and ways of boosting economic and trade relations.

The meeting will address the need to update economic, commercial investment, and technical agreements signed between the two countries in March 1990.

These agreements have guaranteed exemptions for 61 Egyptian commodities exported to Saudi Arabia and 53 Saudi exports to Egypt.

The meeting will also focus on upgrading the 1992 trade protocol to add new items to the lists of tax exemptions, said Ahmed Khaled Hamdi, chairman of the trade representation office, at the Ministry of Trade and Supply. He pointed out that Saudi-Egyptian economic and trade ties have substantially improved, Al Ahram daily said today November 19.