In a significant move to enhance industrial collaboration, Egypt and Saudi Arabia have signed a pivotal supply chain agreement between Egypt’s El-Tawkel for Iron Industries and Galvanization and Saudi Arabia’s Falak Al-Aamal Company. This strategic partnership is poised to bolster the manufacturing and supply of telecommunications towers for the Saudi market, with an ambitious vision to expand into broader industrial projects.
The agreement, signed in the presence of Egypt’s Deputy Prime Minister and Minister of Industry and Transport, Kamel El-Wazir, and Saudi Arabia’s Minister of Industry and Mineral Resources, Bandar Ibrahim Al-Khorayef, aims to strengthen specialized steel industries and galvanization processes. This partnership not only supports participation in government and public sector tenders within Saudi Arabia but also sets the stage for future cooperation across a range of industrial sectors.
Discussions between El-Wazir and Al-Khorayef highlighted the robust political and economic ties between Egypt and Saudi Arabia, focusing on joint projects to boost trade and industrial development. El-Wazir emphasized the potential for joint factories and logistics hubs, leveraging the strategic geographic locations and extensive transport networks of both nations. Key sectors identified for cooperation include aluminum manufacturing, automotive components, petrochemicals, and renewable energy, alongside pharmaceutical and food industry expansions.
Saudi Minister Al-Khorayef stressed the importance of transforming the strong bilateral relationship into tangible projects that generate employment and economic growth. He highlighted the shared geographical advantage on the Red Sea and the potential for joint efforts in supply chain integration and advanced manufacturing. The ministers agreed to further meetings between Egypt’s Industrial Modernization Center and Saudi Arabia’s Export Development Authority to develop a roadmap for deepening industrial cooperation and addressing shared priorities. This agreement marks a significant step towards industrial integration, promising substantial benefits for both economies.