"There is no plan to get rid of or deport Egyptian guest workers in the Kingdom. These are just rumors and are not based on any official policy," said Abdullah Dahlan, who is also a member of the board of directors of Jeddah Chamber of Commerce and Industry.
The council meeting was co-chaired by Commerce and Industry Minister Abdullah Zainal Alireza and his Egyptian counterpart Mahmoud Eissa. The issue of Saudi investments in Egypt valued at more than SR30 billion figured high on the agenda, which also included prospects of establishing joint investment projects.
Alireza said the Egyptian delegation's visit would enhance confidence of Saudis about their investments in Egypt. "We hope it would open a new era in bilateral relations," the Saudi minister said.
Eissa said his country would honor the agreements with Saudi investors. "The security situation in Egypt has improved. Things are getting better," he added.
Dahlan said the Egyptian government has given assurances that the Saudi investments in the country would be protected. He highlighted the strong relations between the two Arab countries.
Bilateral trade between the two countries amounted to SR15 billion in 2010, Dahlan said, adding that Saudi investments accounted for the largest single foreign investment in the country. There are 2,355 Saudi companies registered in Egypt. Saudi tourists spend nearly $500 million in Egypt every year.
