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13:12 GMT
GCC Secretary General Jasem Al-Budaiwi during his speech
CAIRO, Nov 10 (KUNA) -- Cairo hosted the Egypt-Gulf Cooperation Council (GCC) Trade and Investment Forum, gathering ministers, senior officials, and chamber of commerce representatives from both sides.
In his opening remarks, GCC Secretary General Jasem Al-Budaiwi said the forum, held under the theme "A Roadmap to Strengthening Egypt-Gulf Economic Cooperation," advances economic and development partnerships and offers a practical platform for public-private dialogue on trade and investment.
Al-Budaiwi highlighted deep historical ties and Egypt's role as a "second home" for Gulf states, noting joint work under the 2024-28 action plan.
He cited over USD 167 billion in Egypt-GCC trade during 2016-23 and more than USD 40 billion in Gulf investment in Egypt in fiscal year 2023-24, underscoring scope for deeper cooperation.
He underlined that real development requires public-private integration, with the private sector as a vital growth partner, and said the forum facilitates discussion of obstacles, incentives, and guarantees for investors.
Meanwhile, Federation of Egyptian Chambers of Commerce Chairman Ahmad Al-Wakeel said Egypt now offers strong opportunities in transport, logistics, services, industry, and trade, supported by reforms that improved the investment climate and broad market access through multiple trade agreements.
Egypt is strengthening logistics corridors and supply-chain links to position itself as a regional hub for trade and re-export, he added.
Kuwait participated with a delegation led by Minister of Commerce and Industry Khalifa Al-Ajeel, joined by Assistant Foreign Minister for Economic Affairs Ambassador Sami Al-Hamad, Ambassador to Egypt Ghanim Al-Ghanim, and representatives of the Kuwait Chamber of Commerce and Industry. (end)
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