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Saudi Arabia is one of the main trade partners for egypt. the amount of trade between the two countries reached 1620 million dollars in 2004,where the egyptian exports were 424 millions with a 40 % increase compared to 2003, and the egyptian imports were about 1196 million dollars, while 65 to 75 % of the egyptian imports were oil products. the unprecedented increase in international oil priceس was one of the main reasons behind the trade deficit between egypt and saudi arabia in favor of the latter . As for investments, saudi arabia is the biggest arab investor investments in egypt with a total share in capital of the saudis reached 7.5 billions dollars in 989 companies, 39% of which are in the industrial sector, 27% in the tourism sector, 12% in the banking and finance sector. on the other hand , the total amount of egyptian capital invested in saudi arabia is 221 million dollars, in 302 saudi companies. it is expected that the coming years will witness major developments in the economic relations between the two countries. many promising events , and visits by top executives have taken place in 2005, to promote the bilateral economic ties for a level that lives up to the the expectations of the peoples of the two sisterly countries. these events and visits were:-
1- The visit of the egyptian minister of foreign trade and industry / rasheed mohamed rasheed to saudi arabia in january 2005.
2- Holding t he eleventh round of the egyptian- saudi joint higher committee from 30 march to 3 april 2005 in cairo, under the presidency of the two foreign ministers, after a 4 years stoppage period.
3- Conveying the joint technical committee between representatives from various governmental institutions, under the presidency of the two foreign trade ministers in cairo, may 2005.
4- Conveying two meetings of the egyptian- saudi business council, in cairo, and riyadh in march and may 2005.
5- The three visits of dr. ziad bahaa eldin, the chairman of the general authority for investment and free zones, to riyadh and jeddah in january , may and september.
6- The fifteenth round of the annual egyptian trade fair in jeddah, august 2005.
7- The first round of the egyptian trade fair in riyadh, which was held as exception to the saudi rules that prohibit any country of holding two different trade fairs in two saudi cities at the same year.
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