Egypt’s Prime Minister Mostafa Madbouly affirmed his country’s readiness to support Saudi Arabia in preparations for the 2034 FIFA World Cup during a meeting with Saudi Minister Bandar Ibrahim Alkhorayef. They discussed boosting bilateral cooperation in industrial and mining sectors, highlighting investment opportunities and existing collaborations in petroleum. The meeting aimed to enhance trade and strategic partnerships between the two nations.
On Monday, Egyptian Prime Minister Mostafa Madbouly held discussions with Saudi Minister of Industry and Mineral Resources Bandar Ibrahim Alkhorayef in the New Administrative Capital to strengthen cooperation in industrial and mining sectors. During the meeting, which included prominent officials from both countries, Madbouly emphasized Egypt’s commitment to supporting Saudi Arabia’s preparations for the 2034 FIFA World Cup, stating, “All Egyptian companies will be fully prepared to participate in the various projects and works required as part of the Kingdom’s preparations for this prestigious event.”
Madbouly expressed optimism regarding the Egyptian-Saudi Higher Coordination Council, established in October 2024, anticipating a significant rise in Saudi investments in Egypt, which would facilitate numerous joint projects in the industrial sector. He noted Egypt’s potential as a viable investment landscape, providing Saudi enterprises with access to diverse markets due to its free trade agreements with various countries.
He further acknowledged the collaborative efforts in the petroleum and mining sectors and highlighted the need for enhanced cooperation, particularly in gold mining. Madbouly encouraged Saudi investors to explore opportunities within Egypt’s oil, gas, and petrochemical industries while assuring them of the government’s dedication to resolving any challenges they may face.
Minister Alkhorayef affirmed Saudi Arabia’s commitment to fostering ties with Egypt, commending the mutual investment protection agreement as a catalyst for enhanced joint investments. He expressed appreciation for Egyptian efforts to address issues for Saudi investors, noting that 80 out of 90 concerns had been resolved. Both nations identified sectors such as petrochemicals, pharmaceuticals, and automotive industries for further collaboration. Alkhorayef extended gratitude for Egypt’s congratulations on Saudi Arabia’s successful bid to host the World Cup, marking a new chapter in industrial cooperation between the two countries.
The relationship between Egypt and Saudi Arabia has been historically significant, with both nations collaborating extensively in various sectors, including trade and investment. The establishment of the Egyptian-Saudi Higher Coordination Council aims to bolster bilateral cooperation, particularly regarding industrial and mining sectors. As Saudi Arabia prepares to host the 2034 FIFA World Cup, Egypt is strategically positioning itself to contribute to this monumental event, emphasizing its capabilities and commitment to aiding in the preparations through various projects and initiatives.
The meeting between Prime Minister Madbouly and Minister Alkhorayef marks a pivotal moment for enhancing the strategic partnership between Egypt and Saudi Arabia. Both leaders demonstrated a clear commitment to fostering bilateral investments and cooperation across significant industrial sectors. The discussions highlight the potential for mutual growth and collaboration, particularly as both nations prepare for the economic opportunities arising from the upcoming World Cup.
Original Source: www.dailynewsegypt.com
