Arab Finance: Minister of Investment and Foreign Trade Mohamed Farid met with UK Ambassador to Egypt Mark Bryson-Richardson to discuss expanding bilateral trade, supporting British investment, and strengthening economic cooperation between the two countries, according to a statement.
During the meeting, Farid stressed the government's commitment to increasing bilateral trade and creating a more attractive investment environment for British companies operating in Egypt.
The meeting focused on several investment projects by UK firms operating in Egypt, most notably AstraZeneca, as well as procedures related to new investment projects aimed at reinforcing the country’s position as a regional investment hub.
Both sides also explored investment avenues in the Suez Canal Economic Zone (SCZONE) and mechanisms to support targeted projects within the zone, given its potential to attract further British investment.
Farid said the government is cooperating with relevant authorities to overcome challenges facing British investors, eliminating any issues that could hinder their expansion in the Egyptian market.
Talks discussed expanding access for Egyptian agricultural exports, particularly strawberries and grapes, to the UK market, alongside broader proposals to strengthen bilateral trade.
The officials also reviewed ongoing trade issues, including UK measures affecting the steel industry, as the minister stressed the importance of continued consultation under the Egypt-UK Partnership Agreement to preserve stable trade relations and ensure both sides uphold their commitments.
For his part, the ambassador emphasized his country's keenness to build upon the momentum witnessed in economic relations with Egypt, lauding the progress achieved in joint cooperation during the past period.
He also affirmed the interest of British companies in expanding their investments in the Egyptian market and the continued coordination with the ministry and relevant authorities to advance joint projects and address issues of mutual interest.
