In a diplomatic engagement on the sidelines of the G20 Development Ministers’ Meeting, Dr. Rania Al-Mashat, Egypt’s Minister of Planning, convened with Baroness Jenny Chapman, UK Minister of State for International Development, to explore new horizons in bilateral relations.
Their discussions marked a renewed momentum in economic, trade, and investment ties, underpinned by a shared vision to reshape global development architecture and strengthen coordination within international forums such as the United Nations.
UK Prime Minister’s Upcoming Visit to Egypt
Both ministers emphasized the importance of the UK Prime Minister’s anticipated visit to Cairo, describing it as a pivotal step toward upgrading the longstanding relationship into a strategic partnership. The visit is expected to unlock expanded cooperation in priority sectors including clean energy, industry, finance, and innovation—building on the 2024 EU-Egypt strategic agreement.
Redesigning Global Finance for Developing Nations
Dr. Al-Mashat and Baroness Chapman stressed the urgency of reforming the global financial system to better serve developing economies. They advocated for more transparent, fair, and accessible funding mechanisms, including expanded concessional financing, and a more agile and impactful UN system aligned with the needs of the Global South.
Investment & Trade: Turning Potential into Progress
The two sides held detailed discussions on boosting British investment in Egypt, strengthening bilateral trade, and expanding cooperation in development finance. Dr. Al-Mashat reaffirmed Egypt’s commitment to deepening these ties, particularly in sectors like food security, entrepreneurship, and MSMEs, which have seen robust progress in recent years.
The talks highlighted the pivotal roles of:
- The British International Investment (BII), which prioritizes Egypt in its portfolio,
- The UK Export Finance Agency (UKEF), which co-finances major infrastructure and industrial projects,
- And the World Bank, through which the UK contributes to Egypt’s development agenda.
Egypt’s National Economic Vision: A New Narrative
Minister Al-Mashat unveiled Egypt’s upcoming National Narrative for Economic Development, a transformational agenda aimed at:
- Driving structural reform and industrial diversification,
- Expanding export-oriented sectors,
- Enhancing foreign direct investment flows,
- And generating sustainable employment opportunities.
She noted that economic reforms launched since March 2024 have stabilized the macroeconomic environment, paving the way for a more dynamic, resilient, and inclusive economy.
Green Growth and Climate Innovation
The ministers reaffirmed their commitment to green transition and climate finance, spotlighting the UK’s active role in Egypt’s NWFE platform, which integrates water, food, and energy investments. Egypt also acknowledged the UK’s support for global climate funds, including the Green Climate Fund (GCF) and Climate Investment Funds (CIF).
Looking ahead, both countries will launch the “Green Growth: Egypt–UK” campaign in June 2025, a joint initiative to deepen green partnerships and innovation, leading up to COP30.
Unlocking Private Sector Potential
With the UK among Egypt’s largest investors in energy, telecom, pharmaceuticals, and consumer goods, both ministers discussed the 2024 MoU between Egypt’s GAFI and UKEF and praised the roles of the Egyptian-British Business Council (BEBA) and Egyptian-British Chamber of Commerce (EBCC) in accelerating business ties and private sector growth.
Humanitarian Coordination and Regional Stability
Baroness Chapman lauded Egypt’s critical humanitarian role in Gaza, expressing the UK’s full support for Egypt’s efforts to deliver aid and alleviate the crisis. She emphasized the need for an immediate, sustained ceasefire to allow safe, regular access to humanitarian supplies.
She also praised Egypt’s leadership on the international stage, and reiterated the UK’s commitment to a partnership built on mutual respect, shared priorities, and inclusive development.
