Eng. Hassan ElKhatib, Minister of Investment and Foreign Trade, held several bilateral meetings on the sidelines of the ninth edition of the Future Investment Initiative (FII) in Riyadh. El Khatib is attending the forum on behalf of H.E. President Abdel Fattah El-Sisi. The event takes place at the King Abdulaziz International Conference Center from October 27 to 30 under the theme “The New Compass,” sponsored by King Salman bin Abdulaziz Al Saud, Invest-Gate reports.

ElKhatib met with Dr. Majid bin Abdullah Al Kassabi, Minister of Commerce of Saudi Arabia, to discuss ways to enhance investment and trade relations between the two countries. The meeting was attended by members of the Egyptian Embassy and, from the Saudi side, Dr. Eman bint Habbas Al Mutairi, Deputy Minister of Commerce.

ElKhatib emphasized the strength of Egyptian-Saudi ties and the deep-rooted partnership that brings both nations together. He highlighted the importance of strengthening commercial cooperation and achieving a more balanced trade relationship through removing barriers, increasing trade volume, and expanding joint investments. He stressed the role of enhanced coordination between the Sovereign Fund of Egypt and Saudi Arabia’s Public Investment Fund to increase joint ventures and unlock new areas of mutual investment.

The discussions also covered customs cooperation, transportation, and logistics to enable smoother movement of goods and services and improve port connectivity between Egypt and Saudi Arabia. The ministers reviewed opportunities in digital trade and electronic payment solutions in support of each country’s digital transformation and to streamline commercial transactions.

ElKhatib noted that Saudi investments in Egypt currently amount to approximately USD 25bn, reflecting the Kingdom’s position as one of the most significant investors in the Egyptian market. He also underscored the importance of activating the Egyptian-Saudi Joint Business Council, along with the Joint Investment Agreement signed last year, to further expand trade and investment flows between both nations.