Egypt, Qatar discuss trade and investment future

Newspaper Title: https://www.arabnews.com/

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Saturday - 23 October 2021

CAIRO: Egyptian Minister of Industry and Trade Nevin Gamea met Qatar’s ambassador to Cairo, Salem Mubarak Al-Shafi, on Friday to discuss ways to further develop economic, trade and investment relations between the two countries after a four-year hiatus ended earlier this year.

According to a statement by the Ministry of Trade and Industry, Gamea said that both countries are intensifying efforts achieve further rapprochement at a political and economic level. She noted the importance of translating goodwill into concrete cooperation.

She pointed to the importance of building on the “solid ground” laid by President Abdel Fattah Al-Sisi and Prince Tamim bin Hamad Al-Thani by enhancing trade and developing joint investment.

The minister urged the importance of an Egyptian-Qatari trade committee to follow up on all bilateral cooperation projects.

Gamea also stressed the importance of the two countries working at a ministerial level, and invited the Qatari minister of trade to visit Cairo.

Al-Shafi said that Egypt offers “strategic depth” to the region, noting the desire of both countries to begin a new phase of bilateral cooperation.

He urged the importance of enhancing intra-regional trade and joint investment between Egypt and Qatar to “reflect the great potential of both countries.” He said that there is consensus between the two governments on a large number of joint cooperation files.

Al-Shafi praised the economic reforms and urban developments implemented by Egypt, and said that Qatari investment has remained strong in the Egyptian market, especially in finance and real estate.