Egyptian Minister of Investment meets Italian ambassador to mull ways of strengthening cooperation
Updated 12/24/2024 9:55:00 AM
Arab Finance: Minister of Investment and Foreign Trade Hassan El-Khatib met with the Italian Ambassador to Cairo Michele Quaroni to discuss initiatives aimed at enhancing economic relations between Egypt and Italy, as per a statement.
The discussion focused on trade, investment, and customs digitization, as well as opportunities for collaboration in strategic sectors.
The meeting highlighted the progress in launching the Ro-Ro shipping line, connecting Damietta Port in Egypt with the Italian Port of Trieste.
This initiative is expected to facilitate trade between the two countries, particularly in agricultural products, while reducing transportation time and cost.
El-Khatib emphasized the potential for cooperation in digitizing customs procedures, noting Italy's expertise in this area.
The two sides explored opportunities for joint training programs and discussed sending an Egyptian delegation to Italy to study its advanced customs clearance practices.
He also reiterated the government's goal of reducing customs clearance times to two days by next year to streamline trade operations and improve Egypt's global trade rankings.
The meeting also addressed the possibility of expanding joint investments in manufacturing pharmaceuticals, medical devices, and supplies.
Ambassador Quaroni expressed Italy's commitment to strengthening economic ties with Egypt.
He highlighted the interest of Italian companies in expanding investments in sectors such as vehicle manufacturing, recycling, and fuel production.
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