Saleh: the volume of trade exchange between Egypt and Saudi Arabia rises to $ 5 billion

Engineer Hatem Saleh, Egyptian Minister of Commerce and Industry, confirmed that there is political will in both Egypt and Saudi Arabia to push the development of relations between the two countries in various fields and at all levels. There is also political determination to respond to the will of the two people in implementing the dream of building a bridge or tunnel which connects the two countries, and the establishment of a railway line through it in order to facilitate the traffic for purposes such as trade, tourism, Hajj and Umrah.

This came in a speech at the opening session of the 14th round of the Egyptian-Saudi Joint Commission which begun its work today in Riyadh in the presence of the Egyptian Minister of Petroleum and Mineral Resources Engineer Osama Kamal, the Minister of Agriculture and Land Reclamation, Salah Moemen and about 100 businessmen, experts and officials from both sides.

The minister said that Egyptian-Saudi relations are a model for the interaction between siblings, which is based on brotherhood, equality and mutual interests.

He stressed that the Egyptian government is doing its best to boost the economy and provide a healthy atmosphere for businessmen and investors to encourage investment and to resolve all obstacles facing Saudi investments. He pointed out that all these problems have been inventoried, and many of them have been solved, while necessary measures are being taken to resolve the remaining outstanding problems between the two countries.

Saleh stressed the responsibilities and main challenges that are against the Egyptian-Saudi Joint Commission to customize the historical circumstance at this important stage in order to output practical projects and strategic plans that can be implemented to serve our people. He also pointed out that Egypt and Saudi Arabia are able, with their huge capabilities, to lead the region and re-shape the Arab and regional balances to serve the goals and interests of our people and our Arab and Islamic nation.

The minister warned that the world is undergoing structural changes not only at the level of what is happening in the countries of the Arab Spring, but also the United States and Western countries, which pushes the blocks and coalition to play a major role in reforming and reshaping the new world, stressing that the Egyptian-Saudi integration could be able to play a pivotal role in this international change.

Minister of Saudi Arabian Trade and Industry, Dr. Tawfiq Al Rabiah, expressed his pride in the work between the two countries and the close ties that link them. He also pointed out the importance of the Joint Commission in terms of strengthening cooperation and pushing and developing ways of mutual collaboration.

He said: “The partnership between Egypt and Saudi Arabia represents an important pillar in the Arab and regional’s policy-making and an important pillar of the stability in the region,” stressing that “the two countries enjoy enormous potential and we look forward to working together for the development of bilateral trade and investment.”

He stressed the importance of removing obstacles in the way of mutual investments to help them grow more, pointing out that he had discussed this issue with President Mohamed Morsi during his visit to Egypt last year where he expressed his understanding.

The Saudi minister expressed his hope that all problems would be solved so that Saudi investments in Egypt would jump to their highest levels.

Rabiah urged businessmen in both countries to play a greater role in boosting cooperation and establishing more joint projects.