A high-level Egyptian delegation, led by Ahmed El-Wakil, president of the Egyptian Federation of Chambers of Commerce, participated in the 5th Arab-Italian Business Forum (AIBF26) in Milan, Italy. The forum brought together officials, business leaders, and representatives from Egypt, Italy, and other Arab countries to discuss ways to enhance economic and trade relations. The Egyptian delegation included Mohamed Saada, secretary-general of the Egyptian Federation of Chambers of Commerce and president of the Port Said Chamber of Commerce.
The forum aimed to promote economic cooperation and explore new investment opportunities between Egypt and Italy. Mohamed Saada emphasized the need to convert economic relations into practical partnerships that create value-added for the economy. This can be achieved through joint manufacturing, technology transfer, and supply chain development, ultimately enhancing Egyptian companies' competitiveness in regional and international markets.
Saada highlighted the importance of leveraging Egypt's strategic location and industrial expertise, while also benefiting from Italian technology and manufacturing experience. This collaboration can lead to the development of local industries, improved production efficiency, and higher product quality. Additionally, it can open up new markets for Egyptian exports and increase the country's presence in international markets.
The forum provided a platform for Egyptian and Italian companies to explore areas of integration and cooperation. Saada noted that Egypt's geographical location, combined with its network of trade agreements, offers opportunities for partnerships targeting African, Arab, and European markets. This cooperation can help Egyptian companies expand beyond traditional markets and increase their global presence.
The development of transportation, logistics, and infrastructure was also discussed as a crucial aspect of facilitating trade and reducing transportation costs. Saada stressed that integrating ports, transportation networks, and commercial services can increase trade exchange and encourage joint investments. This, in turn, can lead to economic growth and job creation.
The Egyptian delegation also explored Italian initiatives and projects focused on Africa, such as the "Mattei Plan." Saada emphasized the importance of identifying feasible projects in areas like energy, agriculture, food security, and infrastructure. This cooperation can help Egyptian companies participate in project implementation and provide necessary services and supplies.
The forum concluded with a call to action for continued cooperation and coordination between Egyptian and Italian business leaders. Saada emphasized the need for sustained economic cooperation, which can be achieved through regular communication, joint projects, and a focus on priority sectors. This collaboration aims to increase joint investments, boost exports, and enhance the presence of Egyptian companies in international markets.
Key points
- The Arab-Italian Business Forum aims to strengthen economic ties between Egypt and Italy.
- Egyptian and Italian companies are exploring opportunities for joint manufacturing, technology transfer, and supply chain development.
- The forum seeks to increase trade exchange and investments between Egypt and Italy, with a focus on African, Arab, and European markets.
