Arab News

RIYADH: The volume of trade between Saudi Arabia and Egypt reached SR76.5 billion ($20.4 billion) in 2022, up 40 percent compared to 2021, according to the Saudi Minister of Commerce.

Majid bin Abdullah Al-Qasabi explained during the Saudi-Egyptian Business Forum held in Cairo that the two countries are experiencing significant growth in trade relations, partnerships, joint projects, and development investment.

In recent years, Saudi direct investment in Egypt has amounted to an estimated $32 billion. This growth aligns with broader plans to transform the region into a global logistics center.