Egypt, Italy probe cooperation in petroleum, renewable energy fields 

Updated 4/23/2024 9:13:00 AM
Egypt, Italy probe cooperation in petroleum, renewable energy fields 

Arab Finance: Egypt has mulled cooperation opportunities with Italy in the fields of petroleum, oil, mining, critical minerals, and new and renewable energy, according to a statement on April 22nd.

This came during a meeting between the Egyptian Minister of Petroleum and Mineral Resources Tarek El-Molla and the Italian Minister of Enterprises and Made in Italy Adolfo Urso to discuss potential collaboration.

For his part, Urso unveiled three possible areas of cooperation between Egypt and Italy, including oil and gas, green technology industry, and digitization.

In related news, the Egyptian Minister of Trade and Industry Ahmed Samir announced that the volume of trade exchange between Egypt and Italy amounted to $5.145 billion in 2023, with over $3 billion worth of Italian investments in Egypt.

Samir’s remarks were made during his meeting with Urso to probe bolstering economic ties between both countries.

On a separate note, Urso has met with the Egyptian Minister of Communication and Information Technology Amr Talaat to discuss the possibility of establishing an artificial intelligence (AI) center in Egypt to serve Africa.

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