Hassan El-Khatib, Minister of Investment and Foreign Trade, held a comprehensive meeting with Christian Berger, the European Union Ambassador to Cairo, and his accompanying delegation. The meeting covered joint projects and cooperation programs between both parties, focusing on ways to enhance economic relations, increase trade volumes, and expand joint investments between Egypt and EU countries in the upcoming period. El-Khatib emphasized that there is ongoing coordination among various ministries to address the challenges facing the investment and industrial sectors. He highlighted the ministry's commitment to improving the business climate and creating a favourable environment for investors, aiming to attract more local and foreign investments to the Egyptian market.
He pointed out that the ministry facilitated Egypt's foreign trade movement, which would help maximize the benefits of Egypt's distinguished trade relationships with numerous countries and regional and global economic blocs. The Minister of Investment and Foreign Trade explained that the European Union is Egypt's most important trade and investment partner. He stressed the significance of European investors taking advantage of Egypt's unique investment features, including its strategic geographic location, skilled labour force, energy availability, and extensive free trade agreements with a wide range of countries and major economic blocs worldwide. The meeting also reviewed the agreements and memorandums of understanding signed during the Egyptian-European Investment Conference, which included €67.7bn in investments in sectors such as green hydrogen, electric vehicles, infrastructure, sustainable transportation projects, and ICT. Additionally, the strategic partnership between the European Union and Egypt was discussed, including €7.4bn in grants and loans provided by the EU to Egypt until the end of 2027. The talks also addressed the European Carbon Border Adjustment Mechanism (CBAM) and Egypt's efforts to boost the competitiveness of its exports in EU markets. The country aims to expand green investments and increase the use of green hydrogen and ammonia in industrial technologies to reduce greenhouse gas emissions. Christian Berger, the European Union Ambassador to Cairo, confirmed that Egypt and the EU are strong partners in trade and investment. He noted the positive development in relations between Egypt and the EU across various fields, supported by the signing of a political declaration to elevate relations to a comprehensive and strategic partnership. Berger emphasized the EU's commitment to cooperating with Egypt to enhance the business environment, attract more European investments to the Egyptian market, and create job opportunities. The meeting was attended by Hossam Heiba, CEO of the General Authority for Investment and Free Zones; Yehia El-Wathik Bellah, Head of Commercial Representation; and Amani El-Wasal, Head of the Agreements and Foreign Trade Sector, along with several officials from the ministry.
