Arab Finance: Egypt and the UK have signed a memorandum of understanding (MoU) to foster trade and investment relations, as per an official statement.

The MoU was penned by Tim Reid, Chair of the Export Credits Guarantee Department (ECGD), known as UK Export Finance, and Chairman of the General Authority for Free Zones and Investments (GAFI) Hossam Heiba.

Under the MoU, ECGD will fund numerous projects, in coordination with GAFI, which will contribute to scaling up investment flows and deepen trade cooperation between Egypt and the UK.

The MoU also involves the exchange of information between both countries to decide upon the best candidates for the funding.

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