Egypt's government eager to boost British investments in the country, says FM Shoukry

Newspaper Title: https://english.ahram.org.eg/

Newspaper Number:

Tuesday - 4 April 2023

The Egyptian Foreign Minister, Sameh Shoukry, expressed the government's keenness to increase British investments in Egypt on Tuesday, during his meeting with Lord Tariq Ahmad of Wimbledon, the British Minister of State for the Middle East, in Cairo.

Shoukry praised the level of British investments in Egypt, citing the UK's position as the country’s largest single foreign investor.

British investments in Egypt reached $21 billion according to statements by the UK ambassador to Egypt, Gareth Bayley, in early March.

According to the UK Department of Trade and Business in late March, the total amount of goods and services traded (bought and sold) between the UK and Egypt was worth £4.5 billion in 2022. This is 43 percent higher than in 2021—an increase of £1.4 billion.

The discussion centered on joint economic and trade cooperation, with Shoukry expressing the Egyptian government's keenness to involve British companies in major national development projects.

The Egyptian Foreign Ministry confirmed that the two officials discussed the need to prepare for the second meeting of the Egypt-UK Association Council, scheduled in Cairo this year and to be chaired by both foreign ministers.

Minister Shoukry and Lord Ahmed also exchanged views on various regional and international matters of mutual interest, including the Russian-Ukrainian crisis, recent escalations in the occupied Palestinian territories and developments in Libya, Syria, Sudan and Yemen.

Both Shoukry and Ahmed agreed to continue working together to further advance bilateral relations between Egypt and the UK.