Cairo: Minister of Foreign Affairs, Emigration and Egyptian Expatriates Badr Abdelatty on Thursday reaffirmed Egypt's commitment to removing any obstacles facing Saudi investors and to providing a supportive and attractive climate for sustainable investment, in line with presidential directives to strengthen cooperation with Saudi Arabia.

According to State Information Service Egypt, during his meeting in Riyadh with Saudi Minister of Commerce Majid Al Kassabi, Abdelatty expressed deep appreciation for his pivotal role in enhancing the longstanding strategic partnership between the two countries. He also commended the close coordination with Egypt's minister of investment and foreign trade in advancing bilateral relations.

Both ministers emphasized the importance of building on the growing momentum in economic ties, highlighting that Saudi Arabia is Egypt's second largest global trade partner and its largest Arab partner. Trade between the two countries has witnessed steady growth in recent years.

Abdelatty voiced Egypt's aspiration to double trade volumes and broaden partnerships, particularly in the areas of innovation, technology, startups, and digital applications. He stressed the importance of expanding direct Saudi investments in Egypt, with a focus on supply chains, manufacturing, technology localization, services trade, and transit. This leverage takes advantage of Egypt's strategic geographic position as a gateway to African markets and its preferential trade agreements with the EU and regional blocs.

Furthermore, Abdelatty highlighted Egypt's recent comprehensive economic and legislative reforms aimed at improving the investment climate, as led by the National Investment Strategy 2024-2030. Both sides agreed to continue coordination and institutional cooperation to consolidate economic partnership and serve the interests of both peoples.