Saudi Arabia and Egypt are deepening their industrial and economic collaboration, focusing on trade facilitation, industrial integration, and government support. At the Saudi-Egyptian Industrial Forum in Riyadh, His Excellency Bandar Alkhorayef, Minister of Industry and Mineral Resources, highlighted that the Saudi Export-Import Bank has completed SR1.3 billion ($346.5 million) in operations, according to official statements, underscoring strong bilateral ties.
His Excellency Bandar Alkhorayef emphasized that Saudi Arabia’s industrial strategy prioritizes integration with countries like Egypt, covering sectors such as industry, mining, trade, supply chains, human resources, research, and innovation. He also pointed to the essential role of government agencies in supporting exporters and importers from both nations.
Bandar Al-Ameri, Chairman of the Saudi-Egyptian Business Council, noted a 28 percent increase in trade between the Kingdom and Egypt in 2024, reflecting a robust partnership. He highlighted the recent bilateral investment protection agreement as a key milestone and described Egypt as a vital economic partner and gateway to African markets.
Hassan Al-Hwaizy, Chairman of the Federation of Saudi Chambers, welcomed the Egyptian delegation and stressed that the relationship is built on genuine partnership. He called for further cooperation in industry and trade and encouraged the development of joint projects targeting African markets.
H. E. Eng. Khalil Ibn Salamah, Vice Minister of Industry and Mineral Resources for Industrial Affairs, outlined that the partnership focuses on five sectors:
- Pharmaceuticals
- Automotive
- Construction materials
- Textiles
- Food industries
He urged Egyptian manufacturers to explore opportunities in Saudi Arabia, noting the Kingdom’s goal to establish 24,000 new factories over the next ten years.
The forum, held under the patronage of His Excellency Bandar Alkhorayef, gathered over 300 industry leaders and investors from both countries. Organized by the Federation of Saudi Chambers in partnership with the Federation of Egyptian Industries, the event promoted strategic cooperation and showcased investment opportunities in priority sectors, aiming to expand the shared industrial base.
