Egypt and Saudi Arabia discuss strengthening bilateral cooperation in industrial and mining sectors

Egyptian Prime Minister Mostafa Madbouly held a meeting with Saudi Minister of Industry and Mineral Resources Bandar Ibrahim Alkhorayef in the country's administrative capital. The main topic of the talks was strengthening bilateral cooperation in the industrial and mining sectors. This is reported by Daily News Egypt, a partner of TV BRICS.

Madbouly affirmed Egypt's readiness to support Saudi Arabia in its preparations to host the 2034 FIFA World Cup. "All Egyptian companies will be fully prepared to participate in the various projects and works required as part of the Kingdom’s preparations for this prestigious event," the Prime Minister said, emphasising Egypt's commitment to contribute to the success of the tournament.

Moreover, Madbouly expressed his hope that the establishment of the Egyptian-Saudi Supreme Coordination Council in October 2024 will contribute to a significant increase in Saudi investments in Egypt, which in turn will lead to new joint projects in the fields of industry and mining.

Madbouly emphasised that Egypt offers many promising investment opportunities in the industrial sector from which Saudi companies can benefit. He noted that Egypt's free trade agreements with various countries and regional blocs offer Saudi businessmen a chance to enter new markets.

Egyptian Prime Minister also drew attention to the successful cooperation between the two countries in the oil and gas sector, stressing its importance for the development of both countries' economies. He invited Saudi investors to explore opportunities in Egypt's oil and gas and petrochemical sectors.

For his part, Minister Bandar Ibrahim Alkhorayef noted Saudi Arabia's keenness to strengthen relations with Egypt and praised the establishment of a supreme coordination council, as well as the signing of an agreement to protect mutual investments, which he believes will be an incentive to increase joint investments.