Egyptian officials have been engaging in a series of meetings on the sidelines of the first edition of the "El Alamein - Africa for Business" forum to explore opportunities for enhancing investment and trade cooperation with Algeria, India, and international financial institutions. Dr. Mohamed Awad, CEO of the Egyptian General Authority for Investment and Free Zones, and Walid Anwar, Deputy CEO, have been leading these efforts. Their goal is to support the expansion of Egyptian companies into African markets.
Dr. Awad met with Omar Rekash, Director General of the Algerian Agency for Investment Promotion, to discuss ways to enhance investment and trade cooperation between Egypt and Algeria. They also explored the possibility of establishing joint projects and leveraging the capabilities of both countries to expand into African markets. This meeting highlights the growing interest in strengthening economic ties between the two nations.
The Egyptian officials also met with a delegation from the Indian company "Motherson", which specializes in automotive and aircraft industries. They discussed investment opportunities in Egypt, particularly in the manufacturing of car components and aircraft parts. Gautam Manja, Head of Business Development at Motherson, expressed the company's interest in studying available investment opportunities in the Egyptian market.
Dr. Awad emphasized the support of the Egyptian General Authority for Investment and Free Zones for Motherson during its study of investment opportunities. He highlighted the available capabilities in the engineering and automotive industries. Meanwhile, Walid Anwar reviewed the available investment systems in Egypt and their associated benefits, focusing on the free zone system for companies aiming to export to external markets.
Dr. Mohamed Fared, Minister of Investment and Foreign Trade, met with Hitham Al-Maairji, Deputy President of the African Export-Import Bank (Afreximbank). They discussed areas of cooperation in supporting startups, small and medium-sized enterprises, and increasing access for Egyptian companies to African markets. This meeting underscores the importance of international cooperation in promoting economic growth.
Dr. Fared and Dr. Awad also met with Sheero Aquino, Head of the Middle East and Africa region at the Italian Export Credit Agency (SACE). They explored ways to enhance cooperation in investment, trade, infrastructure, environmental sustainability, and technological innovation. These discussions reflect the diverse areas of potential collaboration between Egypt and its international partners.
The meetings held on the sidelines of the "El Alamein - Africa for Business" forum demonstrate Egypt's commitment to expanding its economic ties with Africa and the rest of the world. By engaging with Algeria, India, and international financial institutions, Egypt aims to create new opportunities for investment, trade, and growth. The outcomes of these meetings are expected to contribute to the country's economic development and regional integration.
Key points
- Egypt is seeking to enhance investment and trade cooperation with Algeria, India, and international financial institutions to support the expansion of Egyptian companies into African markets.
