Egypt, EU discuss doubling trade exchange figures
Updated 9/9/2025 7:23:00 AM
Arab Finance: Minister of Investment and Foreign Trade Hassan El-Khatib and EU Commissioner for Trade and Economic Security Maros Sefcovic discussed doubling the volume of trade between Egypt and the EU by promoting joint investments, according to a statement.
The two sides explored ways to attract EU companies to invest in Egypt, leveraging the advantages offered by the Egyptian market, including low business costs, the availability of skilled and trained labor, and competitive prices.
El-Khatib reviewed the measures taken by the government to facilitate the business climate and simplify customs and administrative procedures, while reducing customs clearance times.
The minister highlighted the promising sectors to attract EU investments, such as solar panel and wind turbine factories, components for water desalination plants, and the construction of electrical grids.
In the same vein, he affirmed Egypt's keenness in initiating discussions and negotiations on the Sustainable Investment Facilitation Agreement (SIFA) to provide a legislative framework that contributes to attracting European firms to invest in Egypt.
The meeting also addressed new legislation enacted by the EU, like the Carbon Border Adjustment Mechanism (CBAM) and the European Green Deal.
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