Kamel Al-Wazir, Egypt’s Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, met with Saudi Minister of Industry and Mineral Resources, Bandar Ibrahim Alkhorayef, and his delegation to discuss expanding industrial cooperation between the two nations. The meeting focused on enhancing economic ties through joint ventures and strategic collaborations in various sectors.
Al-Wazir emphasized Egypt’s openness to partnerships with Arab nations, particularly in the industrial sector, which he sees as crucial for sustainable development. He highlighted the potential for establishing joint factories and logistics zones in both Egypt and Saudi Arabia to foster industrial integration and increase trade volumes.
Both ministers noted the strategic geographical locations of their countries, underscoring the importance of their transport networks—maritime, rail, and road— in facilitating industrial activities and improving the flow of goods from production facilities to seaports. These transport routes are essential for efficient exports to international markets.
Several key sectors were identified for collaboration, including joint manufacturing projects in aluminum production to meet Egypt’s rising demand. Other areas for partnership include automotive components, petrochemicals, renewable energy equipment (solar and wind power), green hydrogen, polyester production, and the manufacturing of active pharmaceutical ingredients for chronic and critical disease medications. The ministers also discussed the potential for expanding Saudi food industries into the Egyptian market to support both countries and regional exports.
Al-Wazir assured that Egypt is ready to support these projects by providing industrial lands, skilled labor, and necessary resources to establish the planned factories.
Minister Alkhorayef emphasized the importance of transforming the strong bilateral relationship into tangible projects that create job opportunities and benefit both economies. He also highlighted the establishment of a working group, with representatives from both ministries, to focus on supply chain integration, advanced manufacturing, and human resource development.
During the meeting, the two ministers witnessed the signing of a supply chain cooperation agreement between AlTawakol for Steel Fabrication and Hot Dip Galvanization (Egypt) and Falak Investment (Saudi Arabia). This partnership will focus on manufacturing and supplying telecommunications towers in Saudi Arabia, bolstering cooperation in steel industries, galvanization, and telecommunications infrastructure.
The agreement also sets the stage for future collaborations, with plans to expand operations and compete in government tenders within Saudi Arabia. This marks a significant step in deepening industrial and economic ties between Egypt and Saudi Arabia.
