Saudi Arabia, Qatar Work to Revive Joint Business Council

Saudi Crown Prince Mohammed bin Salman welcomes Qatar’s Emir Sheikh Tamim bin Hamad Al Thani upon his arrival to attend the Gulf Cooperation Council’s (GCC) 41st Summit in Al-Ula, Saudi Arabia January 5, 2021. Bandar Algaloud/Courtesy of Saudi Royal Court/Handout via REUTERS
Saudi Crown Prince Mohammed bin Salman welcomes Qatar’s Emir Sheikh Tamim bin Hamad Al Thani upon his arrival to attend the Gulf Cooperation Council’s (GCC) 41st Summit in Al-Ula, Saudi Arabia January 5, 2021. Bandar Algaloud/Courtesy of Saudi Royal Court/Handout via REUTERS
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Saudi Arabia, Qatar Work to Revive Joint Business Council

Saudi Crown Prince Mohammed bin Salman welcomes Qatar’s Emir Sheikh Tamim bin Hamad Al Thani upon his arrival to attend the Gulf Cooperation Council’s (GCC) 41st Summit in Al-Ula, Saudi Arabia January 5, 2021. Bandar Algaloud/Courtesy of Saudi Royal Court/Handout via REUTERS
Saudi Crown Prince Mohammed bin Salman welcomes Qatar’s Emir Sheikh Tamim bin Hamad Al Thani upon his arrival to attend the Gulf Cooperation Council’s (GCC) 41st Summit in Al-Ula, Saudi Arabia January 5, 2021. Bandar Algaloud/Courtesy of Saudi Royal Court/Handout via REUTERS

The private sector in both Saudi Arabia and Qatar is actively working to revive the joint business council, in a step that follows the restoration of the political and economic relations between the two countries that marked Al-Ula GCC Summit earlier this year.

According to information obtained by Asharq Al-Awsat, the Council of Saudi Chambers has informed the Chambers of Commerce and Industry in the regions of the Kingdom to open candidacies for the membership of the Joint Saudi-Qatari Business Council, calling on those wishing to participate to review the special conditions and submit the dedicated forms, along with their resume and other required documents.

On a different note, the Union of Arab Chambers addressed a letter to the Council of Saudi Chambers, announcing the intention of the Qatar Chamber of Commerce and Industry, in partnership with Qatar Development Bank, to organize a virtual Qatar exhibition early next March.

According to the letter, the exhibition is an opportunity for international companies to participate with their Qatari counterparts through the electronic platform to exchange experiences and form partnerships in various sectors of construction, packaging, electrical appliances, and food.

The Saudi Ministry of Commerce has recently launched the new system of the Chambers of Commerce, which was approved by the Council of Ministers, to facilitate the start and practice of commercial work, develop the functioning of the chambers through performance indicators and raise their efficiency in accordance with international best practices.

The system also aims to strengthen strategic partnerships that would allow the development of economic activities in all regions, and raise the competitiveness of the business sector.

The ministry noted that the system seeks to unify efforts to serve the private sector by establishing chambers or branches according to administrative regions. It also allows foreign investors to be members of the boards of directors of the chambers.

The new system has given the council several missions, the most important of which is the representation of the chambers of commerce in the various commercial activities at the national and international level.



Egyptian Parliament Approves Formation of Saudi-Egyptian Supreme Coordination Council

 Saudi Crown Prince Mohammed bin Salman meets with Egyptian President Abdul Fattah al-Sisi in Riyadh during a previous meeting. (SPA)
Saudi Crown Prince Mohammed bin Salman meets with Egyptian President Abdul Fattah al-Sisi in Riyadh during a previous meeting. (SPA)
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Egyptian Parliament Approves Formation of Saudi-Egyptian Supreme Coordination Council

 Saudi Crown Prince Mohammed bin Salman meets with Egyptian President Abdul Fattah al-Sisi in Riyadh during a previous meeting. (SPA)
Saudi Crown Prince Mohammed bin Salman meets with Egyptian President Abdul Fattah al-Sisi in Riyadh during a previous meeting. (SPA)

The Egyptian Parliament, chaired by Speaker Dr. Hanafy El Gebali, approved on Monday the formation of the Saudi-Egyptian Supreme Coordination Council, aimed at elevating bilateral relations to an unprecedented strategic level.

The establishment of the council was announced in mid-October following discussions between Prince Mohammed bin Salman, Saudi Crown Prince and Prime Minister, and Egyptian President Abdel Fattah al-Sisi in Cairo.

By the end of last year, the Egyptian government had approved the council’s formation, with an official statement highlighting its goal of “intensifying communication and strengthening cooperation between Saudi Arabia and Egypt across various sectors of mutual interest.”

During a joint press conference with his Saudi counterpart Prince Faisal bin Farhan bin Abdullah in September, Egyptian Foreign Minister Badr Abdelatty emphasized that the Supreme Coordination Council would serve as “an overarching framework to further deepen bilateral relations and expand cooperation across political, economic, trade, developmental, and investment sectors to benefit both nations.”

According to the Egyptian government’s statement, the council will comprise ministers and officials from both countries in relevant fields and will hold regular meetings alternately in both nations, with provisions for extraordinary meetings when necessary. The council will replace the previously established Joint Higher Committee Agreement.

Ahmed Fouad Abaza, chairman of the Egyptian Parliament’s Arab Affairs Committee, stated that the council aims to achieve several strategic objectives, including coordination and consultations on regional and international issues of mutual concern, contributing to security and stability in the region.

He added that the council would boost economic, trade, and investment partnerships by facilitating Saudi investments in Egypt and encouraging private sector collaboration between the two countries. It will also focus on exchanging expertise and information in security and defense, as well as strengthening cooperation in counterterrorism and combating organized crime.

The council will drive cooperation in key sectors such as education, healthcare, agriculture, environmental sustainability, culture, industry, technology, telecommunications, transportation, digital transformation, infrastructure, and energy, among other vital areas, stressed Abaza.