Cairo, October 11, 2024 – The Saudi-Egyptian Joint Committee follow-up team convened for its first meeting in Cairo on October 9-10, 2024, marking a significant step in advancing bilateral relations between the two countries. The discussions focused on implementing the key recommendations set forth during the committee’s 18th session. The meeting was co-chaired by Abdulaziz Al-Sakran, Deputy Governor for International Relations at the Saudi General Authority of Foreign Trade, and Dr. Amani Al-Wasal, head of the Agreements and Foreign Trade Sector at the Egyptian Ministry of Industry and Trade.
The agenda of the meeting centered on several key objectives, including monitoring the execution of both nations' strategic goals, assessing the progress made on the joint committee’s recommendations, identifying challenges in implementation, and proposing solutions to overcome them. The follow-up team also explored new avenues to deepen economic cooperation and enhance trade ties between Saudi Arabia and Egypt.
Trade between the two countries has shown remarkable growth, with the first half of 2024 seeing a 41% increase in trade volume compared to the previous year. The total trade value reached approximately $8 billion, reflecting the strength of their economic partnership. Leading Saudi exports to Egypt included metal products, plastics, and derivatives, while Egypt’s exports to Saudi Arabia were dominated by metal products, copper, and their derivatives.
A wide range of Saudi ministries and agencies were represented at the meeting, emphasizing the comprehensive nature of the collaboration between the two nations. Among the participants were representatives from the Saudi ministries of commerce, energy, investment, education, health, communications, tourism, and transport, among others. In addition, several Saudi regulatory bodies, such as the Saudi Central Bank, the Saudi Food and Drug Authority, and the Saudi Fund for Development, also took part in the discussions.
The participation of so many diverse sectors reflects the multifaceted nature of Saudi-Egyptian cooperation, which spans across areas as varied as trade, finance, infrastructure, education, and tourism. Both countries continue to build on their shared strategic interests, with efforts to address challenges and explore further opportunities to strengthen bilateral relations.
