2025/03/19

Egypt, Tanzania forum focuses on African business growth

Egypt reaffirmed its commitment to bolstering economic and trade ties with African nations, urging Egyptian companies to expand their engagement to drive African development through mutually beneficial partnerships.

This declaration was made during a meeting between Dr. Badr Abdelatty, Minister of Foreign Affairs and Immigration, and Mahmoud Thabet Combo, Tanzanian Minister of Foreign Affairs and East African Cooperation, at the Egyptian-Tanzanian Business Forum. The event drew participation from leading Egyptian and Tanzanian business figures, government representatives, and parliamentarians, spanning sectors like construction, chemicals, agriculture, pharmaceuticals, and maritime transport.

Abdelatty emphasized Egypt's dedication to fostering economic cooperation with Africa, highlighting Egypt's industrial and commercial strengths as assets for meeting the continent's developmental needs. He cited the establishment of the Egyptian Agency for Export and Investment Guarantee as a key initiative to encourage Egyptian companies to increase their African market presence.

The Minister showcased Egypt's manufacturing capabilities across various sectors, including food, industrial chemicals, wood products, and construction materials, as well as its expertise in infrastructure development, particularly in Tanzania's electricity networks. He also underscored the potential of Egypt's pharmaceutical industry to offer competitive, essential medicines to the Tanzanian market.

Abdelatty encouraged Tanzanian businesses to partner with the Egyptian private sector to enhance trade, explore joint agricultural projects, and establish Egyptian-based industrial ventures to serve Tanzanian needs, emphasizing the strategic advantages of Egypt's industrial base.

He further highlighted Egypt's trade agreements, notably COMESA, and the government's commitment to facilitating foreign investment by providing market information and streamlining entry processes. He also promoted investment opportunities within the Suez Canal Economic Zone, aiming to establish it as a premier regional logistics hub.