Business executives from Saudi Arabia and Egypt agree to boost economic ties

Saudi, Egyptian businessman at a Business Forum in Cairo on Nov. 27, 2018. (Supplied photo)
Updated 30 November 2018

Business executives from Saudi Arabia and Egypt agree to boost economic ties

RIYADH: The Council of Saudi Chambers (CSC) and the Federation of Egyptian Chambers of Commerce (FECC) have agreed a joint strategy to boost economic cooperation between the countries.
The CSC said that a high-level delegation took part in a Saudi-Egyptian Business Forum in Egypt, coinciding with a visit to Cairo by Crown Prince Mohammed bin Salman, during which the development of bilateral economic relations was discussed. Opportunities for cooperation in joint projects in Africa were also explored, along with ways for the two chambers to share their experiences in the areas of technical aid, finance, entrepreneurship and training.
The joint plan also includes the promotion of Saudi tourism in Egypt and a mechanism to help solve problems experienced by investors in both countries, and to enable the participation of Saudi businesses in the Egyptian Investment Conference next February.
The forum was organized under the patronage of Saudi Minister of Commerce and Investment Majid bin Abdullah Al-Qassabi and Egyptian Minister of Electricity and Renewable Energy Mohammad Shaker.
Al-Qassabi praised the Kingdom’s efforts to create a better environment for investment between the two countries, while Shaker said the electricity sector in Egypt is growing at an accelerated rate, which offers many investment opportunities.
CSC Chairman Sami Al-Obaidy said that Egypt represents a major economic opportunity for the Kingdom, and that trade between the two countries grew to about $7.2 billion in 2017.
The Kingdom ranks first in terms of Arab investments in Egypt, with more than 2,900 projects worth more than $27 billion, of which the Saudi contribution exceeds $5.7 billion.


Diplomatic Quarter: Envoys extend Eid greetings to Saudis

Updated 28 May 2020

Diplomatic Quarter: Envoys extend Eid greetings to Saudis

RIYADH: Foreign ambassadors to Saudi Arabia have been passing on their Eid Al-Fitr greetings to the government and people of the Kingdom.

The US Mission in the Kingdom, tweeted: “The US Ambassador to Saudi Arabia John Abizaid on behalf of all Americans living and working in the Kingdom of Saudi Arabia greeted saying, I would like to take this opportunity to wish Eid Mubarak to the Custodian of the Two Holy Mosques King Salman, Crown Prince Mohammed bin Salman, and all our Saudi friends and colleagues as you celebrate this special holiday.

“May your Eid be joyous, even in this challenging time as we work together to fight (the) coronavirus (disease) COVID-19.”

In a tweet, the Australian ambassador in Riyadh, Ridwaan Jadwat, said: “Wishing everyone celebrating the end of Ramadan a joyous Eid Al-Fitr on behalf of my family and our embassy team: #EidMubarak!”

Posting a video message to the Saudi people, he added: “May I say on behalf of my family and the team here at the Australian Embassy in Riyadh, I hope that you have a safe, happy and blessed Eid Al-Fitr.”

Indian Ambassador to Saudi Arabia Dr. Ausaf Sayeed, said: “May you all be blessed with #Peace, #Joy and #Love on #EidUlFitr and always! #EidMubarak to you and your families.”

Eid Al-Fitr celebrations this year have been curtailed due to the COVID-19 pandemic. The holy month of Ramadan and the festival of Eid in 2020 will be remembered as a time when traditions had to be broken to stop the spread of the deadly virus.

In a message addressing Saudis, the Pakistani community in the Kingdom, and Muslims around the world, Pakistan’s consul general in Jeddah, Khalid Majid, said: “This year, we are celebrating Eid in a very simple and somber manner. Undoubtedly, the world is passing through one of the most difficult times due to the COVID-19 global pandemic, which has badly affected our socio-economic life.”

He added that many people had already lost their lives to the disease while large numbers were still battling with it.

“Besides, the death of around 100 of our Pakistani brethren in a recent PIA (Pakistan International Airlines) plane crash at Karachi has also left us sad and gloomy. My sincere prayers are with all those who lost their lives and also with their bereaved families. At the same time, I also sincerely pray for the good health and speedy recovery of all the COVID-19 patients.

“My deep appreciation and prayers for continued success also goes to all our frontline soldiers including doctors, paramedics, law enforcement agencies and all other involved departments, who are fighting against this deadly virus, at the risk of their own lives.

“I take this opportunity to convey my deepest gratitude to King Salman and Crown Prince Mohammed bin Salman for taking very effective measures against the COVID-19 pandemic. Provision of best health facilities and efficient other services across the Kingdom are instrumental in effectively tackling the situation. It is evident from these steps that the recovery rate in the Kingdom is one of the highest in the world,” Majid said.

“I advise all Pakistanis living in Saudi Arabia to continue abiding by all local health and safety instructions, including those relating to social distancing, so that we can all be safe and play our part in strengthening the efforts of the Saudi government in defeating this pandemic.”