Egypt’s Minister of Military Production, Mohamed Salah Eddin Mostafa, on Monday signed a memorandum of understanding with the Governor of the Saudi General Authority for Military Industries, Ahmed bin Abdulaziz Al-Ohali, to establish strategic partnerships that benefit both sides.
Mostafa noted that his ministry has a keen interest in benefiting from Saudi’s expertise in many fields, and is willing to cooperate with various international companies in transferring and localizing modern technologies in Egypt.
Egypt is a promising market to attract the products of international companies, he said, which can be manufactured by military production companies, which in turn can also be exported to countries in the region and the African continent, taking advantage of Egypt’s strategic location.
A relationship built on cooperation
Al-Ohali said that relations between both sides have always characterized by diversity and cooperation since ancient times at all levels, alongside a mutual understanding regarding the necessity of pushing bilateral relations forward within various industrial and economic fields.
He added that there are important opportunities to enhance military and civil cooperation between the two sides, especially since the two countries enjoy great economic potentials.
Al-Ohali expressed his desire for this meeting to have an important role in opening new horizons for investment and cooperation between military production companies – which represent a unique industrial model – and companies working in similar fields within Saudi Arabia.
He also praised the modern and diverse products he saw at the Ministry of Production’s pavilion, and said he looked forward to seeing Saudi products made by Egyptian hands in the Egyptian market and neighboring markets.
A statement from the Ministry of Military Production explained that the meeting discussed the possibility of cooperation in many fields at the military and civil levels.
The statement noted that it was agreed at the end of the meeting to exchange visits by specialists and technical delegations between both sides. This aims to identify the technological and manufacturing capabilities of the two parties on the ground, precisely determine the proposed cooperation topics, and develop mechanisms to ensure fruitful joint cooperation.