MUSCAT: A meeting of the Omani-Egyptian Business Council at Al-Bustan Palace, in the presence of His Excellency Sayyid Badr bin Hamad Al Busaidi, Minister of Foreign Affairs, and His Excellency Sameh Shoukry, Minister of Foreign Affairs of the Arab Republic of Egypt, was held to discuss a number of issues related to strengthening relations and raising the rates of trade and investment exchange between the private sector in the two countries.

His Excellency Eng. Redha bin Juma Al Saleh, Chairman of the Board of Directors of the Oman Chamber of Commerce and Industry, said in his opening speech to the meeting that the chambers of commerce are working hard to take advantage of the opportunities available in the two brotherly countries by running commercial delegations for businessmen to get acquainted closely with these opportunities and facilities offered.

His Excellency pointed out that the trade exchange between the Sultanate of Oman and the Arab Republic of Egypt amounted to more than $293 million by the end of June 2021, and the total number of Egyptian companies invested in the Sultanate in 2020 amounted to about 744 companies, with a total invested capital exceeding $1 billion and 856 million.

His Excellency Sayyid Badr bin Hamad Al Busaidi, Minister of Foreign Affairs, stresses the importance of the role of the Omani-Egyptian Business Council, which he plays in strengthening trade and investment cooperation between the two brotherly countries.

His Excellency says that enhancing the prospects for economic cooperation between the Sultanate of Oman and the Arab Republic of Egypt requires redoubling and intensifying efforts to translate the common aspirations and goals of the two countries into reality within the framework of qualitative and feasible projects that bring economic benefit to all and meet the hopes and aspirations of the two brotherly peoples.