Trade Min., French Amb. Discuss Boosting Joint Economic Cooperation

Ahmed Samir, Minister of Trade and Industry discussed with Eric Chevalier, the French Ambassador to Cairo aspects of joint economic cooperation between the two countries, and ways to strengthen bilateral relations between Cairo and Paris in the fields of trade, industry and investment. 

Samir said that the meeting discussed ways to benefit from the great economic potential of both countries and translate them into concrete cooperation projects that are in the interest of the Egyptian and French economies alike, noting that there are great opportunities to strengthen economic relations between the two countries at the bilateral and multilateral levels within the framework of the Egyptian-European Partnership Agreement.

He stressed the Ministry's keenness to benefit from the great industrial expertise of the State of France in localizing a number of industries targeted by the Ministry, especially the sectors of the pharmaceutical, petrochemical, and automotive industries and their feeding industries, in order to provide the needs of the Egyptian industry, meet the needs of the local market, and export to foreign markets.

The minister pointed to the importance of French business circles benefiting from the investment opportunities and advantages in the Egyptian market, especially the possibilities of free access for products manufactured in Egypt to the markets of African countries within the framework of the African Continental Free Trade Agreement (AFCFTA), and benefiting from the rapid maritime transport line between Egypt and Italy, which contributes to facilitating the movement of trade exchange between Egypt and the EU, in addition to benefiting from the Cairo-Cape Town road, which provides access to African markets, especially the markets of landlocked countries.

On his part, the French ambassador to Cairo, stressed his country’s keenness to strengthen the bonds of joint economic cooperation with Egypt as it is a major industrial and export hub in the Middle East and the African continent, noting that the current year will witness the holding of many joint activities between the two countries that will advance economic relations between France and Egypt to distinguished levels.