Egyp­tian-Saudi al­liance for re­con­struc­tion of Libya, Iraq: Bin Mah­fouz

Saudi-Egyp­tian Busi­ness Coun­cil calls on Egyp­tian gov­ern­ment to ex­pe­dite Ab­dul­lah Kaki,Abdul Rah­man Shar­batly dis­putes

The Daily News Egypt - - Front Page - By Mostafa Fahmy

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.

He es­ti­mated the vol­ume of non-oil trade ex­change be­tween the two coun­tries from Jan­uary to Oc­to­ber 2018 at $3.1bn, up by 30% from the same pe­riod last year.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 de­clared that the coun­cil seeks to ben­e­fit from the suc­cess­ful Egyp­tian com­pa­nies,and open branches for them in the king­dom,as well as im­ple­ment projects aimed at ex­port­ing to Africa and Europe.

On the other hand, Bin Mah­fouz urged the Egyp­tian gov­ern­ment to ex­pe­dite re­solv­ing the dis­putes of Saudi busi­nessper­sons Abdul Rah­man Shar­batly and Ab­dul­lah Kaki, sig­nal­ing the ex­am­ple of re­solv­ing the dis­pute of the Omar Ef­fendi Com­pany and busi­nessper­son Gamil Al-Kan­bit.

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 hope the dis­putes can be re­solved quickly.We can wait more to solve the prob­lem of the other 95 com­pa­nies un­til the pro­ce­dures for the first two are com­pleted.”

Chair­per­son of the Saudi-Egyp­tian Busi­ness Coun­cil, Ab­dul­lah bin Mah­fouz

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