Arab Finance: Egypt’s Minister of Investment and Foreign Trade Mohamed Farid Saleh discussed ways to strengthen economic and investment cooperation with the UK and preparations for the upcoming visit of the British Prime Minister to Egypt during a meeting in London with Blair McDougall, the UK Under-Secretary of State for Small Business and Economic Transformation.

The meeting was attended by Finance Minister Ahmed Kouchouk and Egypt’s Ambassador to the UK Ashraf Sweilem and took place as part of the ministerial delegation’s visit to London organized by the Egyptian British Business Association (BEBA).

The two sides reviewed efforts to enhance bilateral economic ties and preparations for the British Prime Minister’s planned visit, which is expected to support economic relations and create new opportunities for cooperation and investment between the two countries.

Saleh said the Ministry of Investment and Foreign Trade is working with relevant authorities to build on the positive momentum in Egyptian-British relations through a practical agenda focused on attracting investment, expanding the operations of British companies in Egypt, addressing investor challenges, and translating the outcomes of the visit into actionable projects and opportunities.

He noted that the Egyptian government continues to implement a comprehensive economic reform program aimed at strengthening the role of the private sector, improving the business environment, and enhancing the competitiveness of the economy, creating opportunities for British investors across several priority sectors.

The discussions also covered a range of economic, investment, and regulatory issues of mutual interest, as well as opportunities for cooperation in trade finance, export guarantees, and joint investments in African markets, in line with Egypt’s strategy to expand its economic presence across the continent.

Saleh said the ministry is finalizing a national foreign direct investment strategy in cooperation with the World Bank. The strategy focuses on priority sectors where Egypt has competitive advantages and growth potential, to attract quality investments, increasing value-added activities, creating jobs, and strengthening the country’s export capabilities.

He also stressed the importance of aligning Egyptian and British investment priorities and converting them into joint projects that leverage the comparative advantages of both countries, helping to boost reciprocal investment flows and create new growth opportunities.

The meeting further explored cooperation opportunities in education, healthcare, financial services, outsourcing, information technology, tourism, and professional services. The two sides also discussed collaboration in the green economy, carbon markets, advanced technology, artificial intelligence, and the digital economy to enhance the competitiveness of both countries.

For his part, MacDougall reaffirmed the UK government’s commitment to strengthening its economic partnership with Egypt, praising the economic reforms undertaken by the Egyptian government and highlighting the opportunities available for British companies to expand in the Egyptian market.

He also emphasized the importance of continued coordination between both sides to achieve tangible outcomes during the British Prime Minister’s upcoming visit.