His Majesty's Trade Commissioner for Africa, John Humphrey,
visited Egypt for the first time this week to enhance UK-Egypt
trade and investment co-operation, focusing on green transition,
tourism, aviation and core infrastructure.
During his week-long visit, John Humphrey met key ministers
across the Egyptian Government, including Minister of Foreign
Affairs, Emigration and Egyptian Expatriates, H.E Badr Abdelatty
and Minister of Trade and Investment, HE Hassan El-Khatib, where
they discussed ways of strengthening the UK-Egypt £4.7 billion
trade and investment relationship to support economic prosperity
for both countries.
Additionally, Mr Humphrey met Minister of Tourism, HE Sherif
Fathy, and reaffirmed the UK's commitment to help Egypt meet its
ambitious tourism targets, through commercial flight routes, such
as the recently announced Liverpool to Luxor route, and targeting
UK trade and investment to improve the tourist experience.
Mr Humphrey also met Minister of Civil Aviation, Pilot Sameh
El-Hefny to discuss strengthening bilateral co-operation on the
development and operation of Egyptian airports, including
welcoming EgyptAir's recent order of 10 new Airbus aircraft
designed for efficiency and reduced emissions.
Finally, Mr Humphrey had the opportunity to attend Egypt's
International Airshow at El-Alamein International Airport and
visit the MCV factory to see CEO Karim Ghabbour, and some of the
trademark double deck London buses that assembled here and
exported to the UK.
The visit to Egypt follows a business delegation of 31 UK
companies who visited in June this year to build future trade
partnerships and investment deals. This important delegation met
with senior Egyptian government officials and conducted 250
business to business meetings with Egyptian counterparts.
Building on the trade ties strengthened by Mr Humphrey's visit,
an Egyptian business delegation led by the British Egyptian
Business Association (BEBA), will visit the UK from the 18th to
the 20th of September to unlock investment opportunities in
Egypt.
The event will be attended by: HE Ahmed Kouchouk, Minister of
Finance; HE Hassan El Khateeb, Minister of Investment; HE Walid
Gamal El Din Chairman of the SCEZ; HE Dr Mohamed Farid, Chairman
of FRA; HE Rami Aboul Naga Deputy Governor of the Central
bank and HE Khaled Abass Chairman of the New Capital. The event
will also highlight the Egyptian government's efforts in
attracting investment and accelerating private sector growth,
while modernising regulations across key sectors like energy,
infrastructure, manufacturing and finance.
Reflecting on his visit, John Humphrey said:
It's a great pleasure to be in Egypt looking into potential
opportunities to boost the UK-Egypt trade and investment
relationship. The highlights include an exciting visit to the new
El-Alamein City, one of the 37 planned new cities in Egypt, which
serves as a tangible example of how these kinds of plans can
become a reality. It is a perfect illustration of why
thousands of UK tourists flock to Egypt every year, to witness
its beautiful beaches and wonderful climate.
The UK Department for Business and Trade (DBT) and UK Export
Finance (UKEF) work hand in glove in Egypt, and UKEF has £2
billion available for projects in all sectors, including those
that harness Egypt's incredible potential to become a renewable
energy superpower and to build sustainable cities.
British Ambassador to Egypt, Gareth Bayley, added:
The UK is committed to a growing and prosperous UK-Egypt trade
and investment partnership, especially in the areas of renewable
energy, tourism and core infrastructure. Our strong
bilateral trade relationship is valued at £4.7 billion annually,
and the UK is one of Egypt's largest foreign direct investors.
His Majesty's Trade Commissioner for Africa's recent visit
demonstrates the growing opportunities found here, especially
with. Egypt's strategic position as a gateway into Africa. I
believe the future of trade and investment between our two
countries has huge potential.
Get in touch to explore opportunities for doing business in
Egypt; email us at ExportSupport.Africa@fcdo.gov.uk
