Trade between Egypt and Saudi Arabia reached a record US$15.98 billion in 2024, marking a 29% increase compared to the previous year, according to data from the Saudi Ministry of Investment. This surge highlights the strengthening economic ties between the two nations.
A significant driver behind this growth is Saudi Arabia’s strategic focus on diversifying its economy beyond oil. The Kingdom has established five Special Economic Zones dedicated to industries such as cloud computing, logistics, automotive manufacturing, shipbuilding, food production, mining, and pharmaceuticals. These zones are key to attracting foreign investment and expanding non-oil sectors.
In addition, the Saudi government launched the Global Supply Chain Initiative (GSCI) to position the Kingdom as a central hub in global supply networks. The initiative aims to streamline investment procedures and attract strategic partners in vital industries.
Egyptian investors have been active participants in this economic expansion, receiving 7,000 investment licenses in 2024 alone. These investments have contributed to the creation of 80,000 jobs in Saudi Arabia.
The growing partnership between Egypt and Saudi Arabia signals a broader trend of regional cooperation, driving economic development and increasing mutual prosperity in the Middle East.
