Egypt, Saudi Arabia Eye Cooperation in Mining Sector

Egypt, Saudi Arabia Eye Cooperation in Mining Sector

Minister of Petroleum and Mineral Resources Karim Badawi held a meeting with Bandar Alkhorayef, Saudi Minister of Industry and Mineral Resources, and his accompanying delegation, to discuss ways to enhance joint cooperation, especially in the mineral resources sector.

At the beginning of the meeting, Badawi stated that the relationship between Egypt and Saudi Arabia is a historical and long-standing relationship. Badawi further expressed a strong desire to intensify cooperation between the two nations, especially in the mining sector. He further emphasized the potential to benefit from Saudi Arabia’s expertise and successful experiences, particularly given the geological parallels between the two countries.

Badawi reviewed the main axes of the ministry’s current work strategy, which includes a special axis for creating a qualitative shift in the mineral wealth sector to increase its contribution to the gross domestic product from 1% at present to between 5-6%.

For his part, Alkhorayef expressed his happiness to be in Egypt and the distinguished relations that link the two countries at the leadership and popular levels.

Alkhorayef reviewed the Saudi experience in mining investment, thanking the Ministry of Petroleum and Mineral Resources for being a key partner in the success of the third international mining conference, “The Future of Mining,” which achieved gains in the region and not just for Saudi Arabia.

The two ministers highlighted the importance of activating the provisions of the memorandum of understanding signed between the two countries last January, in a way that supports the capabilities, advisory, scientific, technical and advanced technologies that provide solutions to accelerate the development of this vital sector in both countries.

Additionally, the two ministers stressed the importance of joint work to explore the opportunities available to exploit mineral resources in both countries to establish complementary industries that achieve added value from these resources.

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Sarah Samir 3804 Posts

Sarah has been writing in the oil and gas field for 8 years. She has a Bachelor Degree in English Literature. She has three years of experience in the banking sector.

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