Minister of Planning, Economic Development, and International Cooperation inaugurates the Egyptian-Azerbaijani Business Forum in Cairo with the participation of representatives of the private sector and the business community from both countries

Within the framework of the 6th Session of the Egypt-Azerbaijan Joint Committee

 

Minister of Planning, Economic Development, and International Cooperation inaugurates the Egyptian-Azerbaijani Business Forum in Cairo with the participation of representatives of the private sector and the business community from both countries

 

Al-Mashat: Egypt and Azerbaijan enjoy promising opportunities for economic cooperation

 

Joint committees are an innovative mechanism for exploring and strengthening economic and investment relations

 

The necessity of increasing the volume of trade exchange and investments to reflect the common aspirations of the two countries

 

We are keen to open new avenues for the private sector and increase trade rates

 

Outsourcing and digital transformation are promising areas for investment in Egypt

 

We call on the private sector to explore partnership opportunities in the fields of industry and tourism

 

The government is implementing ongoing measures to improve the business climate and investment environment

 

Infrastructure investments pave the way for further trade and investment facilitation

 

The State is implementing clear fiscal and monetary policies that promote macroeconomic stability

 

Tourism is one of the promising areas for joint relations between Egypt and Azerbaijan

 

The Suez Canal Economic Zone is a regional and international gateway for increasing investment and trade

 

H.E. Dr. Rania Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, inaugurated the Egyptian-Azerbaijani Business Forum, held in Cairo as part of the meetings of the Joint Committee for Economic, Scientific, and Technical Cooperation between Egypt and Azerbaijan, in the presence of Mr. Rashad Nabiyev, Minister of Digital Development and Transport of the Republic of Azerbaijan, and representatives of several private-sector companies in the fields of tourism, communications and information technology, the financial sector, infrastructure, real estate, construction, agriculture, logistics services, investment, and energy.

 

In her remarks, H.E. Dr. Rania Al-Mashat welcomed the delegation of the Republic of Azerbaijan, headed by the Minister of Transport and Digital Development, and Mr. Elkhan Polukhov, Ambassador of the Republic of Azerbaijan in Cairo, as well as the delegation of the business community and private sector. She noted the depth of Egyptian-Azerbaijani relations and the dynamic and long-standing partnership between the two countries, noting Egypt’s aspiration to increase Azerbaijani investments in Egypt and to raise trade volumes. Although 35 companies are currently operating in Egypt across various sectors including tourism, services, industry, construction, communications, agriculture, and information technology, this presence does not reflect the scale of relations between the two countries nor the significant opportunities available to the private sector.

 

Al-Mashat affirmed Egypt’s keenness to deepen cooperation with Azerbaijan in industrial and technological sectors, with particular focus on automotive industries, textiles, cement, and medical equipment, noting Egypt’s pursuit of strengthening strategic partnerships that promote the transition toward higher-productivity sectors.

 

H.E. pointed to the positive and continuous improvement in Egyptian economic indicators resulting from monetary and fiscal reforms implemented since March 2024, as well as ongoing efforts to improve the investment climate and business environment to attract private-sector investment. She noted that the Egyptian economy achieved a growth rate of 4.4% in the previous fiscal year and approximately 5% in the last quarter of the year, driven by non-oil manufacturing, communications and information technology, and tourism. The State is also implementing clear fiscal and monetary policies to reinforce macroeconomic stability.

 

H.E. stated that joint committees are one of the innovative mechanisms of international cooperation for exploring and enhancing economic, trade, and investment relations between Egypt and its partners.

 

The Minister emphasized that Egypt enjoys a strong entrepreneurial environment, alongside an outsourcing and digital transformation sector that represents a key avenue for creating job opportunities for youth, as Egypt’s diverse demographics and the significant proportion of young people qualified for the labor market. She explained that outsourcing and digital transformation represent promising areas for investment in Egypt.

 

H.E. further noted that Egypt has invested significantly in infrastructure that connects various governorates to facilitate trade and investment, calling on the private sectors of both countries to explore avenues for cooperation, particularly in tourism, pharmaceuticals, and food manufacturing, given the substantial opportunities available in both countries.

 

The Minister of Planning, Economic Development, and International Cooperation also highlighted the investment opportunities available in the Suez Canal Economic Zone and the ongoing measures to improve the business climate, noting the presence of industrial zones for several countries, including China, calling on the Azerbaijani side to explore the promising opportunities available in the zone, which is considered a regional and international gateway for increasing exports and strengthening joint relations.

 

Al-Mashat reaffirmed her confidence that the partnership between Egypt and Azerbaijan will deepen further, enhancing economic growth and mutual prosperity, adding that cooperation between the two countries will open new opportunities and strengthen joint efforts to ensure a brighter and more sustainable future for both countries.

 

For his part, the Minister of Transport and Digital Development affirmed his country’s appreciation of its relations with the Arab Republic of Egypt, stressing the necessity of working jointly to increase the volume of joint investments and trade between the two countries to reflect the significant opportunities available to enhance economic relations, noting that both countries have opportunities to maximize relations, particularly in light of the economic prospects they possess in sectors such as agriculture, investment, industry, and other areas.

 

The Minister of Transport and Digital Development reviewed the possibilities and opportunities available in the communications and information technology sectors, as well as in pharmaceutical manufacturing.