Egypt and Saudi Arabia signed two memorandums of understanding in the fields of developing non-petroleum exports and developing the automotive industry. The Minister of Trade and Industry in Egypt, Eng. Ahmed Samir revealed that the merchandise trade rates between Egypt and Saudi Arabia in 2022 reached about 5.665 billion dollars, compared to about 4.572 billion in 2021, an increase of 23.9 percent.
He pointed out that "Saudi investments in Egypt exceed $ 6 billion, in the sectors of industry, construction, tourism, agriculture, services, finance, communications, and information technology. Egyptian investments in Saudi Arabia amount to about $ 1.4 billion in the sectors of industry, energy, water, health, retail trade, e-commerce, petrochemicals, oil and gas, tourism, communications, information technology, transportation and logistics, mining, and engineering services."
Source (Alkhaleej Emirati Newspaper, Edited)
