Egypt's Investment Minister Hassan El-Khatib met Saudi Commerce Minister Majid bin Abdullah Al-Kassabi on the sidelines of the 9th Future Investment Initiative (FII9) in Riyadh to discuss boosting bilateral trade and investment, Egypt's investment ministry said Tuesday. El-Khatib, representing President Abdel Fattah El-Sisi at the event, said both sides aim to enhance economic ties, balance bilateral trade, and remove obstacles hindering the flow of goods and services. The ministers also reviewed coordination between the Sovereign Fund of Egypt (TSFE) and Saudi Arabia's Public Investment Fund (PIF) to expand joint projects and open new areas for investment. Talks also covered customs cooperation, logistics, and port connectivity to facilitate trade, as well as collaboration in digital trade and electronic payments in line with both nations' digital transformation efforts. El-Khatib said Saudi investments in Egypt currently total around $25 billion, highlighting the Kingdom's position as one of Egypt's largest investors. He added that activating the Egypt–Saudi Joint Business Council and implementing the bilateral investment agreement signed last year would help increase trade and investment flows between the two countries. The 9th edition of the Future Investment Initiative, held under the patronage of King Salman bin Abdulaziz Al Saud, runs from 27-30 October at the King Abdulaziz International Conference Centre in Riyadh under the theme The Key to Prosperity: Unlocking New Frontiers of Growth. Attribution: Amwal Al Ghad English
