Industry minister says Kenya 1st partner to Egypt in Africa’s east

Minister of Trade and Industry Ahmed Samir hailed on Monday the history-honored relations between Egypt and Kenya.

In a speech he read out on behalf of Prime Minister Mostafa Madbouli during a celebration hosted by the Kenyan embassy in Cairo on the occasion of the 59th anniversary of the east African country’s independence, Samir said that Kenya is the first partner to Egypt in Africa’s east.

The ceremony was attended by Ayub G. Matiiri, Kenyan Ambassador in Cairo, along with diplomats from Arab, African and foreign countries.

He added that trade, economic and investment relations are witnessing a boom in light of bilateral trade regional and continental agreements.

Samir praised the efforts exerted by the Egyptian and Kenyan governments along with the business societies in the two countries which he said contributed to promoting joint cooperation at all levels.

He added that Egypt seeks to benefit from the potentials of the two countries in the fields of trade and investment in light of their membership at COMESA, saying the Egyptian government is committed to boosting economic and investment cooperation with all African states.

The minister expressed hope for increasing joint projects between the private sectors of the two countries after the African Continental Free Trade Area (AfCFTA) took effect.

For his part, the Kenyan ambassador in Cairo expressed his country’s keenness on boosting relations with Egypt, hailing Cairo’s political support to Nairobi before and after Kenya’s independence.

He said the trade exchange between the two countries is increasing as it reached nearly 550 million dollars last year.

Egypt, EU discuss launching joint business forum

In line with an official statement that was issued on Sunday, December 11, the EU Ambassador in Cairo, Christian Berger met with Ahmed Samir, Egyptian Minister of Trade and Industry, and talked over the prospect of forming a business collaboration that aims to enhance the African exportation and encourage more European investments in the Egyptian market.

During the meeting, they discussed the outcomes of the possible business forum, which is expected to build a strong link between Egyptian and European businessmen, with participation from commercial chambers, and business federations on both ends.

Additionally, Samir and Berger both consented to strengthen the mutual economic and political connections within the near future, as a motivation for European companies to involve more investments in the Egyptian market, and take advantage of the incentives that the Egyptian government provides in order to promote investments from international countries.

The Egyptian Minister of Trade indicated that the forum will display a series of great investment opportunities fueled by Egypt’s outstanding business environment.