Minister of Economy and Planning Faisal bin Fadel Al-Ibrahim and Egyptian Minister of Planning Ahmed Rostom discussed ways to enhance bilateral cooperation and exchange of expertise, and to develop economic partnership between the two countries in light of the strategic relations linking Egypt and the Kingdom.

The Minister of Economy and Planning affirmed the Kingdom's keenness to continue strengthening cooperation with Egypt, building on the signed memorandum of understanding to update areas of economic cooperation and align them with development priorities by developing a joint roadmap in the coming period.

Minister Faisal Al-Ibrahim reviewed the priorities of the current phase, noting that the Kingdom's Vision 2030 has served as a pivotal framework for development transformation in the Kingdom, while the current phase focuses on deepening structural reforms, raising public spending efficiency, diversifying the economic base, and enhancing the role of the private sector as a key driver of economic activity.

During the meeting, Minister Faisal Al-Ibrahim reviewed the Kingdom's preparations for hosting Expo 2030 Riyadh, emphasizing the importance of Egyptian participation in this global event and extending an invitation to Egypt for active participation. He also invited Dr. Ahmed Rostom to attend the global meeting of the World Economic Forum scheduled to be held in the Kingdom next year. Dr. Ahmed Rostom praised the Kingdom's hosting of Expo 2030, affirming it as a source of pride for Arab countries.

The two sides also discussed opportunities for cooperation in several promising sectors, foremost among them the mining sector as a strategic sector supporting economic competitiveness, increasing exports, and improving the balance of payments, while emphasizing the importance of continued coordination in regional and international forums and unifying visions on issues of common interest.

For his part, Dr. Ahmed Rostom affirmed the importance of the relations between the two brotherly countries in various fields, stemming from mutual keenness to advance development efforts and enhance stability in the Middle East region. Saudi Arabia is one of the largest trading partners, and the scope of investment partnerships from the private sector is expanding to support development efforts in Egypt.

The Minister of Planning and Economic Development pointed to the importance of convening the forum to discuss relations between countries of the region and the international community to overcome challenges facing the region to advance the development agenda, especially amid increasing geopolitical tensions.

He added that Egypt submitted its fourth voluntary national report this year to measure progress in implementing sustainable development goals, making it among a limited number of countries that presented their fourth report, which particularly focused on localizing sustainable development goals at the local level in light of economic reforms implemented by the state to implement the 2030 Agenda.

Dr. Ahmed Rostom also reviewed the state's efforts in preparing the first medium-term development plan, along with initiatives implemented by the ministry to mobilize private capital to finance infrastructure projects through the Infrastructure Facility, as well as the state's efforts to expand renewable energy and water desalination projects as priority sectors.

The Minister of Planning and Economic Development stressed the importance of deepening development dialogue between the planning ministries of the two countries, building on the existing memorandum of understanding, and establishing clear implementation mechanisms to enhance cooperation in economic planning, exchange of expertise, and support for implementing projects of common interest.

At the conclusion of the meeting, the two sides affirmed their keenness to continue developing the Egyptian-Saudi partnership and enhancing cooperation in economic planning, sustainable development, and investment, contributing to achieving mutual interests of the two countries and supporting development efforts at regional and international levels.