18 August 2017 08:21 PM

Egypt, Saudi Arabia mull promoting economic cooperation

Friday، 19 May 2017 - 02:25 PM

Minister of Investment and International Cooperation Sahar Nasr discussed with Saudi Minister of Economy and Planning Adel bin Mohammed Faqih means of promoting bilateral economic cooperation.

The talks were held on the sidelines of the 42nd annual meeting of the Islamic Development Bank in Jeddah.

Nasr and Faqih touched on establishing joint projects in accordance with cooperation agreements signed between Cairo and Riyadh.

The Saudi minister hailed economic relations between the two countries, noting that Saudi Arabia seeks to benefit from the Egyptian experience in introducing sustainable development.

Meanwhile, Nasr expressed thanks to the Saudi side for efforts supportingEgypt, stressing that Cairo is looking forward to boosting its relations withRiyadh.

The Egyptian minister further noted that Egypt's newly-passed investment law provides several incentives for Arab and foreign investors as it includes a set of opportunities in national projects such as the Suez Canal Axis Development project as well as the new administrative capital.

MENA

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