1998 News Story

Saudi Arabia takes part in Cairo exhibition

Minister of Commerce Osama Faqih today attended the opening ceremony of the thirty-first Cairo International Exhibition, in which representatives of over one thousand companies from forty-five Arab and foreign countries joined some 3,500 Egyptian firms in presenting their products.  Speaking on the occasion Minister Faqih said that the Kingdom's participation in the exhibition embodies its close relations with Egypt, and noted that the volume of Saudi-Egyptian trade has grown over the past two years by more than 33 percent, this year's value amounting to over SR 2.5 billion (U.S. $ 0.67 billion).  This makes Saudi Arabia Egypt's top commercial partner among Arab countries.  The Kingdom is also the largest Arab investor in Egypt, in industrial, agricultural, tourism and service projects.  Minister Faqih went on to say that the Cairo exhibit will provide him with a good opportunity to hold talks with Egyptian officials and review means for further enhancing Saudi-Egyptian relations.