Chairperson of the Saudi-Egyptian Business Council, Abdullah bin Mahfouz, told Daily News Egypt that the business plan of the council in 2019 has three main objectives: increasing mutual trade exchange, especially in the agricultural and mining sectors, participating in reconstruction projects in Libya and Iraq, and increasing Egyptian investments in Saudi Arabia. Egyptian exports’ value amounted to $1.6bn, while its imports were at $1.7bn of goods from Saudi Arabia. Bin Mahfouz hinted to consultations between a number of private contracting companies in Egypt, the UAE, and Saudi Arabia, spanning the past six months, to discuss ways of cooperation in the reconstruction projects in Libya and Iraq, expecting they can achieve huge returns for the two countries. He estimated the number of Saudi companies operating in Egypt at 4,996, of which only 97 companies have investment disputes with the government. We can wait more to solve the problem of the other 95 companies until the procedures for the first two are completed.”

Source: Daily News Egypt November 27, 2018 18:45 UTC