Egypt, Switzerland ink Joint Economic Committee at Davos Forum

Updated 1/22/2025 8:53:00 AM

Arab Finance: Egypt and Switzerland penned an agreement to establish the Joint Economic Committee to enhance trade exchanges and facilitate investments from both countries, according to an official statement.

Rania Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, and Helene Budliger, the Swiss director of the State Secretariat for Economic Affairs (SECO), signed the deal during the annual meeting of the World Economic Forum (WEF).

The signing was attended by Prime Minister Mostafa Madbouly and Vice President of Switzerland Guy Parmelin.

The committee aims to explore new opportunities to access markets, promote bilateral economic relations, and evaluate and update existing economic agreements.

Al-Mashat said the two countries will provide a platform for the exchange of information on issues related to bilateral trade as well as investment matters.

This partnership is part of the state's economic diplomacy efforts to drive financing for development, Al-Mashat highlighted.

The minister also outlined ongoing discussions to prepare the new cooperation program with Switzerland for 2025-2028, which focuses on backing economic reforms, enhancing the business environment, increasing job opportunities, and promoting sustainable urban development.

The program also aims to tackle critical issues, such as climate change adaptation, poverty rates, social inclusion, refugee issues, and fostering institutional capacities.

It is worth noting that the current development cooperation portfolio between Egypt and Switzerland stands at $71.6 million over nine projects across various development sectors.