Egypt-Switzerland Trade Exchange Records $994 Million
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Tuesday - 7 February 2023
The Minister of Trade and Industry Ahmed Samir said that Egypt and Switzerland have distinguished trade and investment relations, as the volume of trade exchange between the two countries last year amounted to about $994 million, and Switzerland is one of the most important countries investing in the Egyptian market.
This came during a meeting on Tuesday with Yvonne Baumann, the Swiss Ambassador to Cairo.
Samir added, “Switzerland participates in projects with a capital of $2.2 billion in 433 projects,” noting that there are distinct investment opportunities for Swiss businesses in the Egyptian market in a large number of productive sectors, especially projects related to food security, chemicals and fertilizers to meet the needs of the Egyptian market and export to the markets of African countries within the framework of the African Continental Free Trade Agreement (AFCFTA).
Samir pointed out that the meeting dealt with preparations for the visit that Helen Bodleger Artida, head of the Swiss State Secretariat for Economic Affairs, will pay to Cairo, at the head of a delegation of businessmen in Switzerland, in early July. To review investment opportunities and advantages in the Egyptian market in various productive and service sectors.
Pointing out that the visit will include, in addition to official meetings, meetings between businessmen in the two countries, and visits by the Swiss delegation to cities and industrial complexes.
Samir pointed to the ministry's aspiration to benefit from Swiss expertise and experience in the fields of developing the small and medium enterprises sector and green economy projects.
As well as in the areas of developing the technical and vocational training system, in a way that contributes to providing qualified cadres for the industrial sector in general, and the needs of Swiss investments in Egypt in particular.
The minister noted the importance of establishing an Egyptian-Swiss business council to support the system of joint economic cooperation between the two countries in various fields and to enhance communication between business circles in both countries.
Referring to the ministry's keenness to transfer advanced Swiss industrial expertise and technologies to the Egyptian industry, as well as to localize Swiss industries in the Egyptian market.
On her part, Baumann affirmed her country's keenness to strengthen the frameworks of joint cooperation with Egypt in various fields and at all levels.
She pointed to the aspiration of the Swiss business circles to invest and expand in the Egyptian market, as it is one of the most important and largest markets in the Middle East and a major industrial and export hub for the markets of African countries.
She referred to the distinguished investment opportunities in the Egyptian market in industries with advanced technology, construction, engineering and pharmaceutical industries, especially in light of the Egyptian state's launch of the State Ownership Policy document, which provides more investment opportunities for global capitals.
