Egypt and Spain are moving forward with plans to revive their economic dialogue and host a joint business forum in the first half of 2026, aiming to deepen bilateral trade and investment relations. The initiative follows a series of high-level meetings in Madrid led by Abdel Aziz El-Sherif, First Undersecretary and Head of the Egyptian Commercial Service, during his participation in the 7th Trade and Investment Forum of the Union for the Mediterranean.
El-Sherif met with senior officials from Spain’s Ministry of Economy, Trade and Business, including Juan Luis Jimeno, Head of International Trade and Economic Affairs, and Javier Álvarez, Deputy Assistant Minister for Africa and the Middle East. Discussions centered on enhancing cooperation within the framework of the两国’s strategic partnership, particularly through the reactivation of the Egyptian–Spanish Business Council and the launch of the Economic Dialogue established under a recent Memorandum of Understanding.
Bilateral trade has shown strong performance, with Egyptian exports to Spain reaching approximately €1.68 billion in 2024, of which €1.47 billion were non-oil goods. Key exports include iron and steel, mineral fuels, fertilizers, plastics, and fresh produce. Egypt recorded a trade surplus of around €225 million with Spain during the year, reflecting growing competitiveness and diversification in its export portfolio.
Despite this progress, Egyptian officials noted that Spanish investments in Egypt remain below potential, currently totaling about €1 billion. El-Sherif encouraged Spanish firms to expand operations in Egypt, highlighting the country’s role as a regional production and export hub, along with competitive incentives and favorable business conditions.
The visit concluded with talks involving Marta Blanco, President of CEOE International, who confirmed strong interest among Spanish businesses in increasing their presence in Egypt. Both sides agreed on the importance of organizing a comprehensive event combining the economic dialogue and business forum to facilitate deeper private-sector engagement.
— news from Dailynewsegypt
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Egypt, Spain explore reviving economic dialogue, plan joint business forum in 2026
Abdel Aziz El-Sherif, First Undersecretary and Head of the Egyptian Commercial Service, held a series of meetings in Madrid aimed at strengthening economic, trade and investment relations between Egypt and Spain, as momentum builds following recent high-level bilateral engagements.
The meetings took place during El-Sherif’s visit to Spain to attend the 7th Trade and Investment Forum of the Union for the Mediterranean (UfM). They formed part of broader efforts to deepen cooperation between the two countries and advance their strategic partnership.
El-Sherif met senior officials at Spain’s Ministry of Economy, Trade and Business, including Juan Luis Jimeno, Head of International Trade and Economic Affairs and Egypt cooperation desk, and Javier Álvarez, Deputy Assistant Minister for Africa and the Middle East. Members of the Egyptian Commercial Office in Madrid also participated in the discussions.
Talks focused on recent developments in bilateral relations and explored ways to enhance cooperation across trade and investment in line with the strategic partnership framework. El-Sherif highlighted Spain’s position as one of Egypt’s key trading partners within the European Union, noting that relations have gained renewed momentum in recent months.
He pointed to the Spanish King’s visit to Egypt last September and the accompanying Egyptian–Spanish Business Forum as a major milestone, which followed President Abdel Fattah El-Sisi’s visit to Spain and underscored the growing depth of bilateral ties.
The discussions also addressed the importance of convening the first session of the Economic Dialogue established under the Memorandum of Understanding signed during the presidential visit, alongside the inaugural meeting of the reconstituted Egyptian–Spanish Business Council. Both sides agreed on the value of organising a comprehensive event combining the economic dialogue with a business forum during the first half of 2026.
El-Sherif highlighted strong progress in trade indicators in recent years, noting that Egyptian exports to Spain reached around €1.68bn in 2024, including €1.47bn in non-oil exports. This performance, he said, reflects the growing diversification and competitiveness of Egypt’s export base. Egypt also recorded a trade surplus of approximately €225m with Spain during the year.
Key Egyptian exports to the Spanish market include iron and steel, mineral fuels and oils, fertilisers, plastics, as well as a range of fruits and vegetables.
Building on this positive trade performance, El-Sherif stressed Egypt’s intention to elevate investment relations, noting that Spanish investments in Egypt remain below their potential at around €1bn. He invited Spanish companies to expand their presence and launch new projects in Egypt, citing attractive opportunities, competitive incentives and Egypt’s role as a regional production and export hub.
The visit concluded with a meeting with Marta Blanco, President of CEOE International, the international arm of the Spanish Confederation of Business Organisations. Discussions focused on Spanish participation in the planned economic dialogue and business forum. Blanco expressed strong interest among Spanish companies in expanding operations in Egypt, reaffirming Egypt’s importance as a strategic economic and trade partner for Spain.