Egypt and Saudi Arabia signed a historic agreement to enhance trade cooperation between both them.
The agreement includes mutual recognition of the Authorized Economic Operator Program between the Egyptian Customs Authority and the Saudi Zakat, Tax and Customs Authority, which is the first recognition agreement between Egypt and other countries of the Authorized Economic Operator Program.
This serves as a qualitative step in economic relations between Egypt and Saudi Arabia.
Through the agreement, qualified companies in both countries will be able to benefit from significant customs and trade facilities, which will aid in reducing costs and increasing the competitiveness of products.
The agreement was signed in the presence of the Deputy Minister of Finance for Tax Policies, Sherif al-Kilany, Supervisor of the Customs Authority, during his participation in the Zakat, Tax and Customs Conference held under the slogan “Shaping the Future for a Sustainable Economy and Enhanced Security”.
The third edition of the conference, which was held from December 4-5 in Riyadh, witnessed wide international participation through dialogue sessions and an accompanying exhibition that included about 90 local, regional and international entities in addition to over 70 workshops.
Experts and officials participated in the conference in a step aimed at enhancing economic cooperation between Egypt and Saudi Arabia.
