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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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GCC Secretary General: Recommendations of Central Bank Governors Enhance Integration

Gulf Cooperation Council (GCC) Secretary-General Jasem Mohamed Albudaiwi
Gulf Cooperation Council (GCC) Secretary-General Jasem Mohamed Albudaiwi
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GCC Secretary General: Recommendations of Central Bank Governors Enhance Integration

Gulf Cooperation Council (GCC) Secretary-General Jasem Mohamed Albudaiwi
Gulf Cooperation Council (GCC) Secretary-General Jasem Mohamed Albudaiwi

Gulf Cooperation Council (GCC) Secretary-General Jasem Mohamed Albudaiwi said Thursday that the outcomes and recommendations of the latest meeting of the Committee of Governors of Central Banks would help enhance financial and economic integration among GCC countries.

His remarks came during the 83rd meeting of the Committee of Governors of Central Banks of the GCC countries held in Doha.

The meeting was chaired by the Governor of the Central Bank of Qatar and current session chairman Shaikh Bandar bin Mohammed bin Saoud Al Thani.

In his statement, Albudaiwi expressed gratitude to Qatari Emir and the President of the Supreme Council in its current session, Sheikh Tamim bin Hamad Al Thani, for Qatar's sincere efforts and diligent work to strengthen the GCC's unity.

He also praised the committee's valuable efforts to enhance cooperation and economic integration among the GCC countries, particularly in the monetary and banking fields. Albudaiwi cited achievements such as the adoption of guiding standards in banking and financial supervision, coordination in combating money laundering and terrorist financing, and the facilitation of financial transactions among GCC countries through advanced technological systems.

Albudaiwi added that the committee's decisions and recommendations on the meeting agenda would promote economic unity among the GCC countries in all monetary matters and drive them forward in this field.