Wednesday 05 Feb
Dr. Rania Al-Mashat, Minister of Planning, Economic Development and International Cooperation, met with Vitaly Kovaly, the Ukrainian Minister of Agricultural and Food Policies. Also present were Mykola Nahorny, the Ukrainian Ambassador to Cairo, Taras Kachka, the Ukrainian Deputy Minister of Economy, and other officials.
The meeting focused on strengthening cooperation between the two countries, given their shared development priorities and close ties.
At the beginning of the meeting, Al-Mashat expressed her gratitude to the Ukrainian minister for his visit to Egypt. She emphasized Egypt's interest in strengthening cooperation with Ukraine. The Egyptian government looks forward to developing these relations across various fields, working to increase trade exchange, and exploring investment opportunities available in Egypt for Ukrainian companies. They are also exploring ways to increase Egyptian companies' investments in Ukraine.
Ukraine is a major trading partner of the Egyptian government. The joint Egyptian-Ukrainian committee for economic, scientific, and technical cooperation provides a framework for advancing bilateral cooperation. It also facilitates trade exchange, strengthens relations between the private sectors of both countries, and creates a suitable climate for businesspeople to contribute to development plans and increase inter-investment, as well as cooperation in areas of common interest.
The Minister, along with the First Deputy Prime Minister of Ukraine and Minister of Economy, chaired the eighth session of the joint Egyptian-Ukrainian committee. The aim was to strengthen joint cooperation between the two countries in priority areas. The committee also oversaw the signing of a cooperation agreement between Egypt and Ukraine in standardization, specifications, and quality, as well as a memorandum of understanding in the field of space.
During the meeting, Minister Al-Mashat highlighted the Suez Canal Economic Zone as an important logistical hub. Noting that many countries have their own export and manufacturing zones, the Minister invited them to visit Egypt and learn firsthand about the advantages available in the canal. The Minister explained that the presence of silos in the region could create a center for storing Ukrainian grains and re-exporting them to neighboring countries, particularly in Africa.
She emphasized the government's efforts to expand silo infrastructure to secure wheat and grain needs, maximizing their potential as a logistical center for storage and export. She highlighted the 2021 groundbreaking of the West Port Said port silo, funded by development partners, as a key example of enhancing Egypt's capabilities in this area.
She explained Egypt's focus on industrial expansion and localization, a crucial component of the Egyptian economy. She stressed the potential for strong partnerships, leveraging Ukraine's industrial expertise. She also suggested that Egyptian and Ukrainian companies could establish joint ventures in agribusiness, including seed production, agriculture, and food processing.
For his part, the Ukrainian minister confirmed a 32% increase in Ukrainian agricultural exports to Egypt last year, reaching $1.4 billion. He also noted that exports to the entire African continent totalled $2.6 billion. He emphasized Ukraine's view of Egypt as a gateway for its exports to Africa and stressed his country's desire to broaden cooperation with Egypt in numerous priority areas, leveraging Egypt's strategic location to further increase Ukrainian product exports to the continent.
