Egypt, Guinea Consider Signing MoC to Prevent Double Taxation, Boost Customs Facilities

Finance Minister Mohamed Maait said that there are continuous efforts to enhance opportunities for bilateral cooperation between Egypt and Guinea, especially in economic activities.

Maait affirmed the Egyptian side's readiness to exchange experiences and provide technical support in the areas of managing the state's public finances, mechanizing the tax and customs systems, and discussed the possibility of signing a memorandum of cooperation to prevent double taxation and approving customs facilitations, in addition to continuous coordination to stimulate tourism between the two countries.

This came during a bilateral meeting between the minister and the Guinean Minister of Economy, Finance and Planning  Moussa Cissé, on the sidelines of participation in the annual meetings of the African Development Bank Group hosted by Egypt in Sharm El-Sheikh to discuss ways to deepen joint relations, and mechanisms for African economies to face external and internal challenges.

The Minister of Finance affirmed that Egypt puts all its capabilities and expertise in the service of the African brothers wthin the framework of keenness to support the aspirations of the African peoples in achieving comprehensive and sustainable development, especially in light of the current global economic challenges,

"Cooperation efforts in agricultural and industrial production should be maximized to achieving economic integration; in a way that contributes to ensuring the optimal benifit of African resources, and achieving continental sufficiency in basic commodities; through creating a unified African market for goods and services, and African supply chains that will make the continent a “food basket” and a factory for the world; as well as limiting the huge negative effects resulting from the disruption of global supply and supply chains, and the unprecedented rise in food and fuel prices and the cost of financing."