Minister of Foreign Affairs and Expatriates, Badr Abdelatty, met with leaders of Pakistani chambers of commerce and industry as well as executives from companies operating in Egypt during his bilateral visit to Pakistan, which began in Islamabad on Saturday, November 29.
The minister opened the discussion by highlighting the longstanding and close ties between Egypt and Pakistan, expressing hope for deeper collaboration across multiple sectors, particularly in trade and investment, to meet the mutual aspirations of both nations.
He emphasized the need to expand bilateral trade volume, pointing to Egyptian exports such as agricultural produce, pharmaceuticals, food products, fertilizers, and engineering goods as key areas with growth potential in the Pakistani market. He also invited Pakistani firms to explore investment opportunities in Egypt, citing the country’s improved business climate and diverse, promising sectors.
Opportunities for cooperation in localizing priority industries were also discussed, including chemical manufacturing, medicines, medical equipment, software development, and digital services. The minister underscored the Suez Canal’s strategic economic role, noting its investment incentives, tax exemptions, and customs benefits for foreign investors.
Abdelatty stressed the importance of reviving the joint business council between the two countries, along with the chamber-level cooperation mechanism, and referenced Egypt’s recent economic reforms—such as prudent monetary policy and a flexible exchange rate system—that have enhanced the country’s economic standing and investment appeal.
The meeting also covered prospects for enhancing international trade corridors and connectivity, highlighting Egypt’s advanced infrastructure linking the Red Sea and the Mediterranean. The minister mentioned the possibility of launching a direct maritime route between Pakistan’s Gwadar Port and Egypt’s Sokhna Port.
He expressed optimism about continued collaboration within the D8 group of developing nations, which Egypt will chair starting December 2024, aiming to unlock new avenues for trade, investment, and regional partnerships among member states.
— news from معلومات مباشر
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Egypt and Pakistan Discuss Enhancing Economic and Trade Cooperation and Joint Investment Opportunities
Minister of Foreign Affairs and Migration and Minister of Expatriate Affairs, Badr Abdel Aty, met with the heads of Pakistani chambers of commerce and industry and officials from companies operating in the Egyptian market during his bilateral visit to Pakistan, at the beginning of his visit to Islamabad on Saturday, November 29.
The minister began the meeting by affirming the close historical relations between Egypt and Pakistan, expressing hope for enhancing bilateral cooperation in various fields, especially economic and commercial ones, to meet the aspirations of the two friendly peoples.
He pointed to the importance of increasing the volume of bilateral trade, focusing on Egyptian exports to Pakistan in sectors such as agricultural crops, medicine, food products, fertilizers, and engineering goods, urging Pakistani companies to invest in Egypt within a developed investment environment and multiple promising sectors.
He also reviewed cooperation opportunities in localizing priority industries, especially in chemical industries, medicines, medical devices, software, and digital services, affirming the vital economic role of the Suez Canal, which provides investment advantages, tax and customs exemptions for foreign investors.
The minister stressed the importance of reactivating the joint business council between the two countries and the council between the Egyptian and Pakistani chambers of commerce, pointing to the economic reforms implemented by the Egyptian government, including prudent monetary policy and a flexible exchange rate system, which reflected positively on improving Egypt’s economic ranking and enhancing the investment climate.
The meeting also addressed cooperation opportunities in the fields of connectivity and international trade corridors, reviewing Egypt’s advanced infrastructure linking the Red and Mediterranean Seas, the pivotal role of the Suez Canal in facilitating international trade, and the possibility of launching a direct shipping line between Pakistan’s Gwadar Port and Egypt’s Sokhna Port.
The minister expressed hope for continuing cooperation with Pakistan within the framework of the D8 group of developing countries, which Egypt will chair starting December 2024, to explore new opportunities for economic and trade cooperation, attract investments, and strengthen partnerships among group countries.