Egyptian high-delegation lands in Riyadh: Egyptian Prime Minister Moustafa Madbouly touched down in Riyadh yesterday alongside Egypt’s Finance Minister Ahmed Kouchouk and Egypt’s Investment Minister Hassan El Khatib for talks with their Saudi counterparts aimed at strengthening trade and investment between the two countries, according to a statement.

The talks focused on showcasing potential investments and Egypt’s ongoing economic reform program, with talks specifically honing in on the government’s newly released tax policy and efforts to eliminate barriers currently faced by Saudi investors. The Saudi side stressed Egypt’s “tremendous investment potential,” with Saudi commerce minister Majid bin Adbullah Al Kassabi pointing to the industrial, agricultural, and real estate sectors as particularly promising.

A bilateral investment agreement in the works? The two sides also made headway on an Agreement on Promotion and Mutual Protection of Investments between the two countries, which aims to help protect Saudi investors as they look to double their investments in the country in the coming period, Saudi investment minister Khalid Al Falih said in a statement.

The first round of the GCC and Indonesia freetrade agreement negotiations have concluded, Wam reported on Friday. The talks, which were held from 9 to 13 September in Jakarta, aimed to establish a framework for future negotiation rounds and set objectives for an agreement, which should be reached within 24 months. The negotiations touched on a variety of sectors, including trade in goods and services, investment, customs, technical barriers to trade, digital trade and sanitary measures.

UAE President Sheikh Mohamed bin Zayed Al Nahyan and Chinese Premier Li Qiang met last week to discuss strengthening their comprehensive strategic partnership, Wam reported on Thursday. The talks covered expanding cooperation in economy, trade, investment, renewable energy, education, and culture.

Li also visited Dubai, where he met with Ruler Sheikh Mohammed bin Rashid Al Maktoum at Za’abeel Palace, Wam reported separately. Their discussions centered on strengthening bilateral partnerships in trade, tourism, technology, and culture, as well as exploring new investments. Both parties highlighted the UAE's role in the Belt and Road Initiative and concluded with talks on regional developments and promoting sustainable peace and growth.

Ras Al Khaimah Ruler Sheikh Saud bin Saqr Al Qasimi met with the leaders of the Chinese city of Shenzhen yesterday to discuss ramping up cooperation between Ras Al Khaimah and China in trade and investment, Wam reported on Thursday. The meeting saw two MoUs inked, the first promoting cooperation between the Ras Al Khaimah Economic Zone and Shenzhen's Longhua District across sectors such as the digital economy, new energy, healthcare, and advanced manufacturing, and the second with construction giant THi to explore joint ventures on a range of projects, from industrial facilities to educational institutions, according to a press release.

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