PM Madbouly, Serbian president discuss Egypt's tourism potential in North Coast

CAIRO – 14 July 2024: Prime Minister Mostafa Madbouly and Serbia's President Aleksandar Vučić discussed Egypt's tourism potential, particularly in the North Coast, during a meeting in the New Administrative Capital on Sunday.

Emphasizing the North Coast's proximity to Europe, Madbouly and Vučić highlighted the advantage of shorter flight durations between the area and the European continent.

The discussions took place as the Serbian president confirmed that flights between Cairo and Belgrade would continue within a few weeks, as he attended the opening of the Egyptian-Serbian Business Forum.

Boosting investments

Vučić reiterated Belgrade's commitment to enhancing cooperation with Cairo, particularly in boosting trade and increasing Serbian investments in Egypt.

The Serbian president praised the vast potential of the Egyptian market, given the country's large population, which can result in significant gains for investors in Egypt.

During the meeting, Madbouly highlighted the bilateral agreements signed between Egypt and Serbia the previous day, with the free trade deal being a notable achievement.

He expressed confidence that this agreement would facilitate increased trade exchange and enhance bilateral cooperation in areas such as health, communications and information technology, and agriculture.

Madbouly also expressed his hope that Belgrade would benefit from the services provided by Egyptian companies with extensive global experience in implementing projects in Serbia.

 

According to Egypt's official statistical agency CAPMAS, trade exchange between Egypt and Serbia witnessed a significant boost, reaching $120.4 million in 2023.

Furthermore, Serbian investments in Egypt experienced robust growth during the fiscal year 2022/2023, surging by 37.3 percent to reach $173,000.

Vučić's visit to Egypt included a meeting with President Abdel Fattah El-Sisi on Saturday.

On the sidelines of the meeting, Egypt and Serbia signed several agreements in the fields of trade, employment, communications and information technology, customs, antiquities, and museums.

Sisi and Vučić discussed cooperation in various fields, including politics, economics, military affairs, culture, tourism, agriculture, and communications.

They also addressed critical regional and global issues, such as the Israeli war on Gaza, the Russian-Ukraine conflict, and developments in Sudan and Libya.