Saudi considers investing in Egyptian sovereign wealth fund

Saudi Arabia has expressed interest in investing with and taking part in Egypt’s new sovereign wealth fund at the Egyptian-Saudi Economic Committee meetings which took place in Riyadh over the weekend. The Saudis will form a committee to look into the possible venture, read a statement from the Trade and Industry Ministry. The meetings also looked at procedures to coordinate any future issues regarding Egyptian agriculture imports deemed unsafe by Saudi Arabia. The move comes after the Saudislifted a nine-month ban on Egyptian peppers and other agriculture goods. The meetings also looked at facilitating labor movement between both countries.