The Saudi Ambassador to Egypt and Permanent Representative of the Kingdom of Saudi Arabia to the Arab League, Ahmed bin Abdulaziz Qattan opened Saudi-Egyptian Businessmen Association recently.

The ceremony was attended by Egyptian Minister of Commerce and Industry Mounir Fakhri Abdul-Nour on behalf of Egyptian Prime Minister Hazem Al-Beblawi who stressed in his speech the importance of business organizations in strengthening and developing business in Egypt and Saudi Arabia.

He also stressed the need for increasing joint investments and building fruitful economic cooperation between the two countries. This is reflected in the volume of trade between them over the recent years to reach around $5 billion; the Kingdom ranked the first largest investor among Arab countries in Egypt.

For his part, the Saudi ambassador said that he would always support the association in all matters that contribute effectively to supporting investments between the Kingdom and Egypt.