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Egypt’s Trade Ministry Denies Setting Limits to Imports from Saudi Companies

A general view of Cairo, Egypt. (AFP)
A general view of Cairo, Egypt. (AFP)
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Egypt’s Trade Ministry Denies Setting Limits to Imports from Saudi Companies

A general view of Cairo, Egypt. (AFP)
A general view of Cairo, Egypt. (AFP)

Egypt’s Trade and Industry Ministry denied reports that it had introduced restrictions aimed at limiting imports from Saudi companies.

“The economic and trade relations between Egypt and Saudi Arabia are witnessing a remarkable development, given the brotherly and friendly relations that bind their leaderships, governments and peoples,” said a ministry spokesman.

He stressed that the Ministry is keen to provide the necessary facilitations to Saudi companies, whether they are investing in or exporting to the Egyptian market.

Issues related to some Saudi companies are being settled in accordance with the registration rules for factories qualified to export to the Egyptian market, he added.

The Ministry had in March introduced amendments to the rules governing the registration of factories qualified to export their products to Egypt.

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Progress in Building World's Largest Inferencing Data Center in Saudi Arabia

The third Global AI Summit, which concluded on Thursday in Riyadh. Asharq Al-Awsat
The third Global AI Summit, which concluded on Thursday in Riyadh. Asharq Al-Awsat
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Progress in Building World's Largest Inferencing Data Center in Saudi Arabia

The third Global AI Summit, which concluded on Thursday in Riyadh. Asharq Al-Awsat
The third Global AI Summit, which concluded on Thursday in Riyadh. Asharq Al-Awsat

Aramco Digital, the digital and technology subsidiary of Saudi Aramco, and Groq, a leader in AI inference and creator of the Language Processing Unit (LPU), have announced a partnership to establish the world's largest inferencing data center in the Kingdom.

The announcement was made during the third Global AI Summit, which concluded on Thursday in Riyadh.

The strategic collaboration marks a significant step forward in advancing the Kingdom's digital transformation initiatives and solidifying its position as a global leader in AI and cloud computing.

"This initiative not only aims to create the largest facility of its kind but also ensures seamless access to advanced AI computing power for everyone, offered through our digital marketplace, nawat, in a flexible 'as-a-Service' model,” said CEO of Aramco Digital Tareq Amin.

“Our collaboration with Groq aligns directly with Vision 2030, promoting the localization of advanced technologies, driving innovation, enhancing sustainability, and reinforcing digital excellence within the Kingdom."

The facility will process billions of tokens per day by the end of 2024 and be able to onboard hundreds of thousands of developers in the region and then hundreds of billions of tokens per day with millions of developers by 2025, setting a new industry standard and bringing advanced technology from Groq to the Kingdom.