Engineer Hassan El-Khayat, Minister of Investment and Foreign Trade, delivered remarks at the Egypt-Algeria Business Forum held in the New Capital, on the sidelines of the ninth session of the Egypt-Algeria Supreme Committee chaired by Prime Minister Dr. Mostafa Madbouly and Algerian Prime Minister Sayefi Ghrib. The event brought together ministers, senior officials, heads of regulatory bodies, private sector leaders, and development partners from both countries. n nEl-Khayat welcomed attendees to Egypt, underscoring the historical depth and strategic strength of bilateral relations. He emphasized placing mutual national interests and aspirations at the forefront, noting that shared Arab and African identity, along with strong trust, opens vast opportunities for deeper economic and investment collaboration. n nHe highlighted Algeria’s role as a key strategic partner, with Egyptian investments in Algeria reaching approximately USD 5.7 billion by November 2025, spread across more than 62 projects in industry, construction, and services. Bilateral trade exceeded USD 1 billion in 2024, marking a record high. Despite these gains, he noted that current figures do not yet reflect the full potential, and the goal is to translate this into tangible outcomes—specifically targeting USD 5 billion in trade volume, as outlined by the Prime Minister. n nEgypt has pursued an ambitious path of comprehensive economic reform aimed at building resilience against global fluctuations. Significant state investment has gone into infrastructure, including roads, ports, and logistics zones, alongside the creation of smart cities. The government has adopted clearer, more transparent monetary, fiscal, and trade policies, supported by a conducive legislative framework and investor-friendly incentives. n nThe minister expressed a clear ambition for Egypt to rank among the world’s top 50 nations in trade and investment competitiveness within the next two years. He pointed to existing agreements such as the Greater Arab Free Trade Area and the African Continental Free Trade Area (AfCFTA) as enablers of industrial and commercial expansion between the two countries. n nTo achieve deeper integration, both sides must address business community challenges, including simplifying visa procedures, establishing mechanisms for deploying Egyptian labor, and reviewing fees affecting cross-border trade. He advocated for a joint mechanism to resolve commercial disputes swiftly and transparently, enhancing confidence and stability for investors. n nSuch measures would create a more favorable climate for Egyptian and Algerian enterprises, encouraging long-term partnerships. El-Khayat concluded by calling on Algerian investors to leverage the forum to expand their presence in Egypt, benefiting from its supportive investment environment and competitive advantages. He expressed confidence that discussions and partnerships formed here will lead to concrete actions benefiting both economies and populations. n n— news from اليوم السابع
