Egypt, UK strengthen investment and trade relations through MoU signing

CAIRO - 02 May 2024: The General Authority for Investment and Free Zones of Egypt (GAFI) and the British Foreign Ministry have signed a memorandum of understanding (MoU) to strengthen investment and trade relations between both countries. 

 

Under the MoU, the UK Export Finance, which serves as the British export financing agency, will provide financial support for a range of projects in close coordination with GAFI. The MoU aims to facilitate cooperation between the two countries and foster investment and trade opportunities.

 

The memorandum establishes a supportive framework for the investment priorities of both nations. It outlines a mechanism for exchanging vital information to identify projects that are most deserving of financing and to direct financial support towards investments that align with the development strategies and plans of both countries.

 

The agreement was signed by GAFI’s CEO Hossam Heiba, CEO of the General Authority for Investment and Free Zones, and the Chief Executive of UK Export Finance, Tim Reid.

 

Commenting on the MoU, Heiba emphasized its significance in promoting investment cooperation and providing mutual support to enhance investment flows between Egypt and the UK. He further highlighted that the agreement will facilitate the establishment of joint investment projects between companies from both countries and help overcome investors’ challenges.