Qatar, Egypt open new horizons of trade, investment cooperation, say Egyptian ministers

Egyptian Investment and Foreign Trade Minister Dr Mohamed Farid Saleh and Finance Minister Ahmed Kouchouk expressed that Egypt and Qatar have opened new avenues for bilateral cooperation, investing and trading more in the future. At a Thursday meeting of the Qatar-Egypt Joint Higher Committee in Alamein, Saleh highlighted the importance of agreements and memoranda of understanding reached during the discussions.

These encompassed initiatives to form a joint committee for economic, trade, and investment cooperation, as well as Qatar's participation in African investment opportunities alongside Egyptian companies and Egypt's Sovereign Fund. Saleh also applauded a recent Qatari investment in the Ras El Hekma region, predicting it would bolster tourism on Egypt's North Coast and nationwide.

The Egyptian Finance Minister elaborated on discussions regarding sectors poised for growth in the Egyptian economy and enhanced collaboration between financial and business hubs in Egypt and Qatar. Both ministers voiced confidence in the future bilateral ties, anticipating long-term investments, heightened trade, and increased tourism between the nations.

Kouchouk noted that the committee's seventh session covered extensive investment and industrial matters, facilitating deeper bilateral coordination and regional issue discussions within Egypt and Qatar's ongoing cooperation across diverse fields. He emphasized the signing of an agreement with Qatar's Ministry of Finance on cooperation and coordination concerning customs policies, knowledge exchange, and comprehensive digital information sharing.

This pact aims to streamline customs cooperation by reducing costs and expediting transaction and document exchanges in real-time, thereby facilitating smoother trade relations.