Missions of Egyptian-Saudi joint entities

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Tue, 27 Nov 2018 - 01:08 GMT

FILE PHOTO: Saudi Crown Prince Mohammed bin Salman looks on as he meets with French President Emmanuel Macron in Riyadh, Saudi Arabia, November 9, 2017.

FILE PHOTO: Saudi Crown Prince Mohammed bin Salman looks on as he meets with French President Emmanuel Macron in Riyadh, Saudi Arabia, November 9, 2017.

CAIRO - 27 November 2018: There are three entities that reinforce Egyptian-Saudi relations on the official, and private sector levels. In parallel to the visit of Saudi Crown Prince Mohammed Bin Salman, Egypt Today displays the missions of each.

The Egyptian-Saudi Business Council

The council aims at identifyingbusiness opportunities, boosting trade and expertise exchange as well as joint investments, putting forward recommendations to improve the business environment and remove obstacles, and settling commercial disputes amicably.

According to Arab News, trade exchange between both countries is worth $6.2 billion. Saudi Arabia has 1,000 Egyptian investments worth $1.1 billion. Joint investments in Saudi Arabia and Egypt are 300 and 2,900 in the value of $1.4 billion and $27 billion, respectively. The Saudi share of joint investments in Egypt is $5.7 billion.

The council will convene in parallel to the crown prince’s visit to Cairo.

The Supreme Saudi-Egyptian Coordination Council

The council ensures coordination between both countries on the leadership level.

The Saudi-Egyptian Joint Committee

The mission of the committee is to facilitatecooperation, and pavethe way for agreements and memoranda of understanding among the governmental sectors in both countries.

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