Egypt and Switzerland have formalized a new economic partnership with the signing of an agreement to establish a Joint Economic Committee. The agreement was signed by Dr. Rania Al-Mashat, Egypt’s Minister of Planning, and Helen Budliger, Switzerland’s State Secretary for Economic Affairs, during the 2025 World Economic Forum in Davos. The signing ceremony recieved Dr. Mustafa Madbouly, Egypt’s Prime Minister, and Guy Parmelin, Vice President of the Swiss Confederation.
The committee aims to enhance trade, investment, and economic collaboration between the two nations. It will focus on promoting bilateral trade, facilitating investments, exploring new market opportunities, and addressing challenges in economic relations. The committee will also assess and improve the implementation of existing agreements and foster the exchange of knowledge and best practices in various economic sectors.
Strengthening Bilateral Economic Relations
Dr. Al-Mashat emphasized that the establishment of the committee marks a significant step in deepening Egypt-Switzerland economic ties. The agreement provides a platform to exchange information on trade and investment matters, facilitating closer economic collaboration.
Historical Ties and Future Plans
The minister underscored the longstanding relationship between Egypt and Switzerland, dating back 45 years in development cooperation and over 115 years in trade. Switzerland has been a strategic partner to Egypt since 1979, supporting key economic and developmental programs. Dr. Al-Mashat noted that the Ministry of Planning has worked to expand the partnership through various programs and is currently preparing a new cooperation program for 2025-2028. This program will focus on economic reforms, improving the business environment, job creation, and sustainable urban development.
The new program will also address climate change adaptation, poverty reduction, social inclusion, and institutional capacity building.
Future Areas of Collaboration
Looking ahead, Dr. Al-Mashat highlighted key future areas for cooperation, including green climate projects, technical skill development, and the implementation of Carbon Border Adjustment Mechanisms (CBAM). Other focus areas include climate change, women’s empowerment, strengthening the private sector, and supporting Africa’s development initiatives.
