Arab Finance: Egypt's Minister of Investment and Foreign Trade, Mohamed Farid Saleh, and South Africa's Minister of Trade, Industry, and Competition, Mpho Parks Tau, held talks aimed at strengthening bilateral trade and investment relations, with discussions covering industrial cooperation, automotive manufacturing, pharmaceuticals, logistics, and supply chain integration, as per a statement by the Egyptian ministry.
During the talks, Saleh said Egypt and South Africa should expand cooperation beyond trade to include joint manufacturing and integrated value chains. He also called for faster product approval and registration procedures, particularly in the pharmaceutical sector, and highlighted Egypt's efforts to develop its legislative, customs, and logistics frameworks.
Parks Tau said South Africa views cooperation with Egypt as an opportunity to strengthen economic ties across the continent. He added that his country is ready to expand cooperation in logistics, trade, and industry, and has completed technical preparations for several proposed initiatives, including in the automotive sector.
The discussions covered a proposed investment cooperation framework between Egypt and the Southern African Customs Union (SACU) in the automotive industry, with both sides expressing readiness to advance the initiative and finalize the necessary protocols.
The two countries also discussed applying cumulative rules of origin to support production across multiple African markets and facilitate access to regional markets. Potential applications include the engineering, automotive, and manufacturing sectors.
In the pharmaceutical industry, both sides agreed on the need to accelerate product registration and certification procedures and hold technical meetings between relevant authorities to explore industrial cooperation opportunities.
The talks also addressed the role of ports, special economic zones, and logistics infrastructure in improving supply-chain efficiency and reducing transportation costs. Discussions further covered coordination within international forums, particularly the World Trade Organization (WTO), and a proposal to organize trade exhibitions in Egypt and South Africa to strengthen business links and commercial partnerships.
The meeting concluded with an agreement to continue coordination through technical channels to advance the proposed areas of cooperation.
