Tuesday 31 Dec
Engineer Hassan Al-Khatib, Minister of Investment and International Trade, held an extensive meeting with John Humphrey, the British Trade Commissioner for Africa, and his accompanying delegation. The meeting focused on ways to enhance trade and investment relations between Egypt and the United Kingdom.
The minister emphasized the
significance of the economic ties between Egypt and the United Kingdom,
underscoring the UK's status as one of Egypt's foremost trading partners. In
2023, the bilateral trade exchange between the two nations reached an
impressive value of approximately 2.8 billion British pounds. Moreover, the
cumulative value of British investments in Egypt as of last June amounted to a
substantial 21.5 billion US dollars, concentrated in key sectors such as
petroleum, financial services, communications, and industry.
Al-Khatib announced an upcoming
visit to Britain to meet with government officials and businesspeople. The
visit aims to inform the British business community about the latest
developments in economic reforms and investment opportunities available to
British investors, particularly in the sectors of green technology, digital
economy, renewable energy, and logistics. It also aims to introduce the
business community to the advantages of the Egyptian-British Partnership
Agreement and opportunities to benefit from it.
Furthermore, the minister
outlined the Ministry's strategic vision and comprehensive work plan across
various domains. He underscored the government's unwavering commitment to
implementing effective measures that foster and stimulate investments in all
sectors, while concurrently providing investors with comprehensive support and
facilities.
Humphrey expressed enthusiasm for
the impending visit of Engineer Hassan Al-Khatib to Britain, noting that
meticulous preparations are underway to ensure the visit yields maximum
benefits. He underscored the new British government's keen interest in
fortifying investment and trade relations with Egypt, highlighting the
substantial opportunities available for British companies to capitalize on
their presence in the Egyptian market as a strategic platform for expanding
into the broader African markets.
A roundtable meeting was
convened, bringing together representatives from the General Authority for
Investment and Free Zones, the Suez Canal Economic Zone, the New Administrative
Capital Company, and the Commercial Representation. During this meeting,
participants explored the diverse investment opportunities and fields available
to British companies in Egypt, while also delving into the comprehensive
incentives offered by the Egyptian government to attract and support foreign
investors.
The meeting was attended by Gareth Bayley, the British Ambassador to Egypt, Hossam Heiba, Chairman of the General Authority for Investment and Free Zones, and Commercial Counselor Yahya Al-Watheqbellah, Head of the Commercial Representation Authority, in addition to a number of officials from the ministry.
