Egypt, with its unique geographical location bridging Africa, the Middle East, and Europe, offers great logistical advantages for European industries, said Valdis Dombrovskis, vice president of the European Commission, on Sunday. "Considering recent global disruptions, including the COVID-19 pandemic and geopolitical tensions, the need for resilient and diversified supply chains because there would be more apart." Dombrovskis said in his opening remarks on the second day of Egypt-EU Investment Conference in Cairo. "Egypt is uniquely placed because of the position statistically between Africa and Middle East and Europe," the EU official stated, stating that such position places it at the crossroads of global trade. The country's modern ports and highways facilitate efficient connectivity, making it an ideal gateway for European businesses. Egypt offers abundant resources, including renewable energy. European industries can benefit from cost-effective energy solutions, enhancing their competitiveness, he added. With a young, educated workforce, Dombrovskis said the North African country provides a talent pool ready to drive innovation and productivity. European companies can tap into this skilled labour force for manufacturing and other sectors, he noted. European manufacturers stand to gain significantly by nearshoring production to Egypt, the EU official noted. This move allows them to enhance exports and integrate more deeply into European supply chains. Dombrovskis further said by Leveraging Egypt's modern infrastructure, the automotive and logistics sectors can thrive. Smoother, faster, and cost-effective trade routes make Egypt an attractive destination for these industries.
