During the Egyptian-Czech Economy Forum organized by the General Federation of the Chamber of Commerce (FEDCOC) headed by Eng. Ibrahim Mahmoud El-Araby, attended by Sameh Shoukry, Egyptian Minister of Foreign Affairs, Ambassador Badr Abdel-Aty, Assistant Minister of Foreign Affairs for European Affairs and the President of the Federation of Czech Chambers of Commerce.
Engineer Ibrahim Mahmoud El-Araby, Chairman of both FEDCOC and Cairo Chamber of Commerce , confirmed that this meeting will build on what was agreed upon at the second business forum in Prague, where we pledged to support not only our growing bilateral cooperation, but also our tripartite cooperation, Which will yield a profit for both parties by combining multiple comparative advantages for joint production and manufacturing, utilizing the available Egyptian free trade zones, Taking advantage of the available Egyptian free trade zones, which now exceed 3.1 billion consumers without customs or quotas, including the European Union, the Arab world, South America, and the United States of America, as well as the entire African continent through the Continental Free Trade Agreement launched by His Excellency President Abdel Fattah El-Sisi last year, and it will continue to rise with if the Eurasian trade agreement is implemented.
Egypt has sought to embrace this tripartite cooperation, according to Elaraby, since it has implemented revolutionary reforms, such as a legislative and procedural revolution, to improve the economic environment and rebuilding multimodal transport mechanisms to connect Egyptian markets to all global markets via modern road and rail networks, transcontinental bridges, and other means.
He noted that Egypt's adoption of tripartite cooperation projects in Africa in the fields of industry, energy, agriculture, livestock, transportation, communications, and infrastructure, with partners from various countries around the world, the most recent of which was the dam and hydropower project in Tanzania, which cost more than 2.8 billion dollars.
El-Araby added that the political leadership's economic reforms are bearing fruit, as Egypt has transformed into a hub for all foreign direct investments in the area, and the number of arriving tourist delegations is increasing. In a world dominated by negative growth, positive economic growth surpasses 2.8 percent.
On Egyptian-Czech economic relations, he stated that our bilateral trade exchange has increased to more than 530 million dollars, with an average annual growth rate of 15% over the last six years, and Czech investments in the Egyptian market have totaled more than 54 million dollars in 48 companies, but the opportunities available in Egypt are greater.
Currently, the Czech investor is presented with prestigious and promising opportunities in industry, agriculture, services, infrastructure, software development, and communication technology, as well as the opportunity to participate in major industrial and construction projects currently underway in Egypt.
