Doha: Their Excellencies Egyptian Minister of Investment and Foreign Trade Dr. Mohamed Farid Saleh and Egyptian Minister of Finance Ahmed Kouchouk announced that relations between Egypt and Qatar have opened new avenues for cooperation, setting the stage for long-term investments and increased trade and tourism between the two nations.

According to Qatar News Agency, the ministers made these remarks during the seventh session of the Qatar-Egypt Joint Higher Committee in Alamein. The session was chaired by HE Prime Minister and Minister of Foreign Affairs Sheikh Mohammed bin Abdulrahman bin Jassim Al-Thani and Egyptian Minister of Foreign Affairs, Emigration and Expatriates Dr. Badr Abdelatty. Dr. Mohamed Farid Saleh emphasized the significance of the agreements and memoranda of understanding reached during the meeting.

These initiatives include the formation of a joint committee for economic, trade, and investment cooperation, alongside Qatar's involvement in investment opportunities in Africa in collaboration with Egyptian firms and the Sovereign Fund of Egypt. The discussions also focused on industrial investment cooperation, with particular attention to Qatari investments in Egypt via the industrial investment sub-fund of the Sovereign Fund of Egypt. Dr. Saleh welcomed the recent Qatari investment in the Ras El Hekma area, which is expected to boost tourism in Egypt's North Coast and beyond.

Dr. Saleh further highlighted discussions on targeted growth sectors in the Egyptian economy and cooperation between financial and business centers in both countries. He expressed optimism about the future of Egypt-Qatar relations, anticipating that these efforts will lead to sustained investments and increased trade and tourism.

HE Egyptian Minister of Finance Ahmed Kouchouk reported to QNA that the committee's session addressed a broad spectrum of investment and industrial matters, offering a platform for enhanced bilateral and regional coordination within the framework of their ongoing collaboration across multiple domains.

In this regard, he underscored the signing of an agreement with Qatar's Ministry of Finance on cooperation in customs policies, expertise exchange, and digital communication. Kouchouk stated that this agreement will facilitate the exchange of necessary information on transactions and new customs policies, enhancing customs cooperation efficiency between Egypt and Qatar.

Concluding his comments to QNA, Kouchouk noted that the cooperation aims to minimize costs and expedite the real-time exchange and documentation of information and documents, thereby promoting smoother trade flows between the two countries.