01 February 2023 08:05 AM

Maait: Deepening Arab economic partnerships to ride out global challenges

Saturday، 26 November 2022 - 04:49 PM

Finance Minister Mohamed Maait asserted it is high time to deepen Arab economic partnerships and achieve integration among Arab brothers in order to ride out current global challenges that include repercussions of Covid-19 pandemic and consequences of the military operation in Europe.

Such challenges are taking their toll on upping inflation rates and increasing prices of basic commodities and energy and financing cost, added Maait during a meeting with President of the Muscat Stock Exchange Mohammed Mahfouz, in the presence of Chairperson of Egyptian Exchange (EGX) Ramy el Dokany Saturday 26/11/2022.

The minister added Arab brothers have strong, deep-rooted and historical relations, which, he said would push for developing and upgrading joint action on all fronts, with special focus on the economic domain.

All brothers share strong political determination to attain the target, according to him.

Egypt is seeking to lure more investments, based on a strong infrastructure network to cover development and production expansion works, Maait went on to say.

Egypt has promising investment chances in various sectors, especially green transition projects in accordance with Egypt's presidency of COP27 in Sharm el Sheikh, he pointed out.

Maait said he is looking forward to upping Omani investments in Egypt and boosting trade exchange volume between the two countries.

In turn, Mahfouz affirmed development projects in Egypt are attracting Omani investors, underlining the necessity of fostering bilateral economic cooperation and swapping experiences with Egypt and Arabs to overcome these current global challenges.


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