Mubasher TV
Contact Us Advertising   العربية

Egypt-Saudi Arabia bilateral trade value hit $59bn in 5 years

Egypt-Saudi Arabia bilateral trade value hit $59bn in 5 years
Photo Archive

Cairo – Mubasher: The trade exchange value between Egypt and Saudi Arabia hit SAR 221 billion ($59 billion) during the five-year period from 2018 to 2022, the Saudi Embassy in Cairo announced.

Ahmed Samir, Egypt’s Minister of Trade and Industry, and Majed bin Abdullah Al Qasabi, Saudi Minister of Commerce, discussed cooperation in various commercial, industrial, and investment fields.

Samir pointed out that the Saudi investments in Egypt amounted to $6.30 billion over 7,444 projects in the sectors of industry, construction, tourism, services, agriculture, finance, communications, and information technology.

Meanwhile, the value of Egyptian investments in the Kingdom reached $1.60 billion in 2,027 projects across the sectors of manufacturing, wholesale, and retail.

Samir also indicated that the total volume of trade exchange between the two Ara countries increased by 23.90% to $5.66 billion in 2022 from $4.57 billion in 2021.