CAIRO - 25 November 2024: Egypt is keen to leverage its extensive network of free trade agreements (FTAs) to bolster trade relations with various international partners. Minister of Investment and Foreign Trade, Hassan El Khatib, emphasized that Egypt’s strategic focus on free trade agreements plays a pivotal role in enhancing economic growth and expanding global trade ties.
Speaking at the 28th Annual World Investment Conference (WIC) in Riyadh, Minister El Khatib highlighted how these agreements contribute to diversifying Egypt’s exports, reducing tariffs, and opening international markets. He pointed out that FTAs serve as a cornerstone for Egypt's economic strategy, supporting both foreign and domestic investment by improving trade flows and creating a favorable environment for investment.
The Minister detailed Egypt’s wide-ranging trade agreements, including the partnership agreement with the European Union, FTAs with the European Free Trade Association (EFTA), Turkey, and Mercosur, as well as agreements with the United Kingdom, the African Continental Free Trade Area (AfCFTA), the Arab Free Trade Area, and the Agadir Agreement.
These agreements not only foster stronger economic links but also provide Egypt with enhanced access to global and regional markets, enabling the country to diversify its economy and attract foreign direct investment (FDI).
Minister El Khatib also emphasized that these agreements are designed to align with Egypt’s broader goals of sustainable development, ensuring fair dispute resolution, and balancing rights and obligations. He stressed that the successful implementation of these trade agreements will stimulate foreign investment, strengthen regional partnerships, and support Egypt’s integration into the global economy.
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