CAIRO – 17 December 2023: Egyptian Prime Minister Mostafa Madbouly held meeting with a delegation from Italy, where they discussed strategies to enhance cooperation in the field of food security.
The meeting commenced with Prime Minister Madbouly underscoring the strong bilateral relations between Egypt and Italy, both at the political and economic fronts. He emphasized the shared commitment of both nations to collaborate in the fields of land reclamation, crop cultivation, and agricultural industrialization.
During the meeting, Madbouly expressed his Italy's advanced technologies, recognizing their potential to bring substantial value to land reclamation projects in Egypt.
He further highlighted Egypt's ongoing efforts in opening up extensive areas of reclaimed lands, which play a pivotal role in achieving food security. The Prime Minister outlined the ambitious goal of adding nearly 3 million agricultural acres to Egypt's agricultural landscape within the next few years.
The Agriculture Export Council recently reported a remarkable growth of 24.6% in agricultural exports during the 2022/2023 season, with the value increasing from $2.860 billion to $3.566 billion.
Additionally, the latest data from the Central Agency for Public Mobilization and Statistics (CAPMAS) revealed a substantial increase in trade volume between Egypt and Italy. In 2021, the trade volume surged by 29%, reaching $5.8 billion compared to the previous year's $4.5 billion. This upward trend demonstrates the strengthening economic ties between the two nations.
Italian investments in Egypt have also witnessed a significant boost. In the first quarter of fiscal year 2021/2022, Italian investments increased by 40.3%, reaching $448.8 million.
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