Egypt, Spain Inaugurate Joint Business Council, Sign Financial Cooperation Declaration

PM Mostafa Madbouly and Pedro Sanchez, Prime Minister of the Kingdom of Spain, signed a joint declaration on financial cooperation between the governments of Egypt and Spain.

They also witnessed the signing of a joint declaration between the Egyptian Ministry of Trade and Industry and the Spanish Ministry of Trade; with the aim of inaugurating the Egyptian-Spanish Business Council and supporting joint cooperation in the commercial and economic fields, in addition to two memoranda of understanding in the fields of culture and sports.

The joint declaration on financial cooperation, which was reached, comes within the framework of the two sides' desire to consolidate and intensify the existing close and friendly relations between the two countries, the readiness to facilitate bilateral trade and investment, as well as the readiness to develop, expand and deepen the successful cooperation between the two countries.

The scope of the joint declaration on financial cooperation included working to promote, support, and facilitate the financing of projects of common interest, which contribute to the economic growth of Egypt and enhance the growing presence of Spanish technology.

The joint declaration on financial cooperation also included several financial cooperation methods between the two governments, most notably the Spanish government's willingness to make available 400 million euros to finance projects of common interest, especially in the water and sewage treatment sector, transportation, including railways, and renewable energy. and agricultural industries, in the form of soft credits to finance the supply of Spanish goods and services for government and public projects implemented in Egypt by Spanish companies, as well as grants for technical assistance and feasibility studies for projects implemented by Spanish companies.

A joint declaration was also signed between the Egyptian Ministry of Trade and Industry and the Spanish Ministry of Trade; with the aim of inaugurating the Egyptian-Spanish Business Council and supporting joint cooperation in the commercial and economic fields.

The agreement was signed by Neven Gamea, Minister of Trade and Industry, and Ziana Mendes, Minister of Trade of Spain.