Egypt’s Minister of Investment and Foreign Trade Hassan El-Khatib met with Minister for Economy of Armenia Gevorg Papoyan, his accompanying delegation, and Ambassador of Armenia to Egypt Armen Sargsyan to discuss investment files of mutual interest.
During the meeting, the two sides reviewed available investment opportunities in both countries, focusing on priority sectors.
They also discussed mechanisms for activating cooperation between the relevant ministries in both countries to exchange technical expertise and facilitate trade between the Egyptian and Armenian markets.
El Khatib underscored the depth of the historical relations between the two countries, noting that the coming period will witness practical steps to strengthen the economic partnership, serving common interests and supporting the economic goals of the two countries.
He also affirmed the importance of continuous communication between the two countries at the governmental and private levels, which allows for discussing challenges and exploring opportunities to enhance bilateral trade and mutual investments.
The Minister stressed the importance of setting specific goals to double the volume of trade and boost investments, and work to implement them through defined mechanisms.
El Khatib underlined that Egypt welcomes increased Armenian investments, given its attractive investment environment resulting from extensive economic reforms and significant adjustments to monetary, fiscal, and trade policies.
He noted that the investment climate in Egypt has become among the most attractive in its African, Arab, and Mediterranean environment.
The minister added that Egypt's competitive advantages, strategic geographical location, and trade agreements with Africa, Asia, South America, the Arab region, the United States, and the European Union make it a gateway for trade expansion in these vital parts of the world.
On his part, Papoyan praised the historical and strong relations between Egypt and Armenia at the popular and official levels.
He extended an invitation to the El Khatib to participate in the upcoming investment summit in Armenia to explore investment opportunities in the Armenian market, particularly in light of the policies adopted by the Armenian government to encourage investment.
The Minister expressed his country's strong desire to establish strong economic relations with Egypt, noting the readiness of the Armenian Ministry of Economy to discuss projects and investment opportunities with Egypt individually and to support the exchange of delegations and visits from officials and the business community to achieve the aspirations of the two countries to enhance economic cooperation.
He stressed the importance of exchanging data related to investment, trade, and the economy, and exploring ways to establish partnerships between private sector companies from both countries.
Papoyan affirmed that Armenia can contribute to expanding Egyptian trade and investment within its regional sphere through its economic relations, agreements, and joint projects with neighboring countries.
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