The launch of the Egyptian-Gulf Trade and Investment Forum in Cairo
Cairo, November 10, 2017 (WAM) – The work of the Egyptian-Gulf Trade and Investment Forum was launched today in Cairo, with the participation of the UAE, to discuss strengthening economic, trade and investment partnerships between the two sides, review promising opportunities in the sectors of energy, industry, logistics, agriculture, food security, tourism and technology, and enhance the role of the private sector in establishing joint projects that support economic integration and sustainable development.
Dr. Mostafa Madbouly, Prime Minister, Dr. Badr Abdel-Ati, Minister of Foreign Affairs and Immigration, and a number of ministers and senior statesmen participated in the opening session of the two-day forum from the Egyptian side.
On the Gulf side, the Ministers of Trade, Industry and Economy, heads of the Federations of Gulf Chambers, senior representatives of economic and investment bodies, His Excellency Jassim Mohammed Al Budawi, Secretary General of the Cooperation Council for the Arab States of the Gulf, and a number of businessmen and investors participated.
The UAE delegation was headed by His Excellency Mohammed Abdul Rahman Al-Hawi, Undersecretary of the Ministry of Investment, with the participation of a delegation that included representatives of economic unions, major companies and Emirati businessmen, confirming the UAE’s keenness to strengthen strategic partnerships with the Arab Republic of Egypt and explore new investment opportunities in vital sectors.
In his opening speech, the Egyptian Prime Minister highlighted the importance of enhancing Gulf investment flows to Egypt, noting that the Gulf Cooperation Council countries are Egypt’s first trade and economic partner, and that the Egyptian economy achieved a growth rate of 4.4% during the fiscal year 2024/2025 compared to 2.4% in 2023/2024, driven by the sectors of industry, tourism, energy, transportation, and communications.
For his part, the Minister of Foreign Affairs, Immigration and Affairs of Egyptians Abroad stressed the strength of the Egyptian-Gulf partnership and the qualitative boom it has witnessed since 2022 and the adoption of the joint action plan in 2024, calling for the expansion of Gulf investments in the sectors of industry, new energy, food security and technology.
On the same level, Dr. Rania Al-Mashat, Egyptian Minister of Planning, Economic Development and International Cooperation, indicated that Gulf investments are the largest in Egypt, and that the soft financing provided to the private sector since 2020 amounted to $16 billion, explaining that the Egyptian economy recorded growth of about 5% during the fourth quarter of the fiscal year 2024/2025 compared to 2.4% in the same period of the previous year, bringing annual growth to 4.4% compared to 2.4%.
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