Egyptian Prime Minister Mostafa Madbouly met with Austrian Chancellor Christian Stocker on the sidelines of the 81st UN General Assembly in New York. The meeting focused on strengthening trade and investment ties between the two nations. Madbouly is representing President Abdel-Fattah El-Sisi and leading Egypt's delegation to the UN General Assembly session. He congratulated Austria on its election as a non-permanent member of the UN Security Council for the 2027-2028 term.
Madbouly and Stocker discussed ways to enhance bilateral cooperation, including the proposal to establish an Austrian logistics zone within the Suez Canal Economic Zone (SCZone). The SCZone has seen significant growth, with a 37 percent increase in revenues in the last fiscal year, driven by expanding European investment. Madbouly highlighted Egypt's efforts to expand its renewable energy sector, including solar, wind power, and green hydrogen production, and encouraged Austrian companies to invest in these areas.
The two leaders also touched on the need to reactivate the Egyptian-Austrian joint economic committee and expand cooperation on organized labor mobility. Madbouly emphasized Egypt's skilled workforce and its potential to meet the needs of the Austrian labor market. The two sides also discussed regional developments, stressing the need to contain the current escalation and its repercussions for supply chains, oil prices, and maritime security.
Madbouly expressed hope that ministerial-level consultations between Egypt and Austria would continue regularly to broaden bilateral coordination. He noted that trade between the two countries remains below its potential, encouraging Austrian companies to invest and establish production facilities in Egypt to access African and Arab markets. Bilateral trade totaled around $355 million in 2024, with Austrian exports to Egypt valued at $323.4 million and Egyptian exports to Austria at $31.9 million.
The meeting was attended by Foreign Minister Badr Abdelatty and Egypt's Permanent Representative to the UN Ambassador Ihab Awad. Abdelatty had visited Vienna on July 15-16, delivering a message from El-Sisi to Stocker and meeting with the speaker of the Austrian parliament. The visit also saw the first round of political consultations between the two countries under a mechanism established by their foreign ministers in 2025.
Economic cooperation between Egypt and Austria dates back to a 1975 agreement, under which the two countries held seven joint committee sessions covering areas including electricity, agriculture, housing, and transport. A new agreement was signed in 1996 following Austria's accession to the European Union. Madbouly is leading Egypt's delegation to the 81st UN General Assembly on behalf of El-Sisi, a role he also performed at last year's session.
Both sides stressed the need for concerted international efforts to achieve de-escalation, resume negotiations, and reach peaceful settlements. Madbouly highlighted Egyptian efforts, led by El-Sisi, to help restore security and stability in the region. The two leaders also discussed cooperation on migration management, regional stability, counter-terrorism, and economic issues.
Key points
- Egypt and Austria discuss establishing an Austrian logistics zone in the Suez Canal Economic Zone.
- The two countries aim to strengthen trade and investment ties, with bilateral trade totaling $355 million in 2024.
- Egypt encourages Austrian companies to invest in its renewable energy sector and establish production facilities to access African and Arab markets.
