CAIRO, April 29 (MENA) - Minister of Investment and Foreign Trade Hassan el-Khatib stressed the importance of achieving integration between Egypt and Saudi Arabia, highlighting Egypt's great human potential, encompassing more than 32 million people in the workforce and constituting a basic cornerstone for supporting joint investment projects.

During an expanded meeting held Tuesday with Secretary-General of the Egyptian-Saudi Coordination Council Mohammed al-Tuwaijri, the minster of finance reviewed the Egyptian government’s efforts in reforming financial policies, along with steps meant to facilitate trade movement by accelerating customs release procedures, stressing that all reform measures are meant to open new horizons for investors and support the business environment in Egypt.

Khatib also referred to the key role of the Egyptian-Saudi Coordination Council, which was established upon an initiative from President Abdel Fattah El Sisi and Saudi Crown Prince Mohammed bin Salman, with a view to strengthening economic relations and reinvigorating vital sectors, most notably the tourism sector, in a way that would help further promote integration between the two sisterly countries in development domains.

The minister of investment voiced aspiration for more joint cooperation between Egypt and Saudi Arabia, praising the ambitious Saudi Vision 2040; being an inspiring exemplary model for sustainable development in the region.

For his part, the secretary-general of the Egyptian-Saudi Coordination Council pointed out to the importance of working on expanding areas of cooperation in the outsourcing sector, exchanging expertise and developing the infrastructure that is essential for supporting economic growth, underlining the need to benefit from successful experiences, with the aim of enhancing the two nations’ economic competitiveness and generating new job opportunities.

The two sides agreed to continue coordination between relevant Egyptian and Saudi institutions to shore up economic and investment cooperation and push it to broader horizons for the benefit of the Egyptian and Saudi peoples. (MENA)

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