Egyptian Min., Italian Amb talk enhancing trade, investment between two states

CAIRO - 6 August 2024: Egyptian Minister of Investment and Foreign Trade Eng. Hassan El Khatib, received Ambassador Michele Quaroni, Ambassador of Italy to Cairo, and held a meeting, where they discussed ways to enhance joint economic cooperation and increase Italian investments in Egypt.

 

This comes in light of the distinguished strategic relations between the two countries, as well as within the framework of the "Mattei Plan" that aims to enhance cooperation between Italy and African countries.

 

The Minister stressed that the Ministry of Investment and Foreign Trade pays great attention to providing an attractive investment climate, providing more facilities for Italian investors, and implementing an integrated action plan to open new areas for Italian investments, by: enhancing communication with the Italian business community to present opportunities for joint cooperation, facilitating investment procedures, providing all necessary support to Italian investors and overcoming any challenges they may face. 

 

Al-Khatib added that the meeting reviewed ways to increase trade cooperation between the two countries, especially after the agreement to establish a "Ro-Ro" shipping line between Damietta Port and the Italian Port of Trieste, which contributes to serving Egypt's foreign trade.

 

He stressed that Italy is one of the most important countries receiving Egyptian exports, especially fresh agricultural products, from which these goods are distributed to European countries, noting that Egyptian ports represent Italy's gateway to African countries and the Gulf countries, especially after the tremendous development witnessed by Egyptian ports, as well as Egyptian road and railway networks.

 

The minister pointed out that the ministry welcomes increasing cooperation with the Italian side and providing all forms of support to Italian companies wishing to invest in Egypt, as well as receiving any Italian delegations interested in visiting Egypt to learn about developments in the investment climate and opportunities.

 

For his part, Ambassador Michele Quaroni, the Italian Ambassador to Cairo, expressed his country's appreciation for the Egyptian government's efforts aimed at improving the investment climate, stressing that the ongoing coordination with the Ministry of Investment and Foreign Trade will pave the way for more cooperation and open new opportunities for Italian investors in the Egyptian market, especially in sectors of interest to the Italian side, most notably agriculture, food processing, textile industries, pharmaceutical industries and logistics services.