Egyptian ministers highlight new cooperation opportunities with Qatar

Egyptian Minister of Investment and Foreign Trade Dr Mohamed Farid Saleh and Egyptian Minister of Finance Ahmed Kouchouk revealed that Egypt and Qatar have established new avenues for collaboration, facilitating long-term investments, enhanced trade, and increased tourism between the two nations. At the seventh session of the Qatar-Egypt Joint Higher Committee in Alamein, chaired by Prime Minister and Foreign Minister Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani and Egyptian Foreign Minister Dr Badr Abdelatty, Saleh emphasized the significance of the agreements and memoranda of understanding reached during the committee's meetings.

These encompassed the formation of a joint committee for economic, trade, and investment cooperation, Qatar's engagement in African investment opportunities in collaboration with Egyptian firms, and the Sovereign Fund of Egypt.

Saleh also highlighted industrial investment cooperation, including a Qatari investment in Egypt through the industrial investment sub-fund of the Sovereign Fund of Egypt. He expressed delight over a recent Qatari investment in the Ras El Hekma area, asserting that it would bolster the area's allure for tourism in Egypt's North Coast and nationwide.

Moreover, the Egyptian minister discussed sectors poised for growth in the Egyptian economy and cooperation between financial and business hubs in Egypt and Qatar. He expressed confidence in the future of bilateral cooperation, anticipating long-term investments, heightened trade, and augmented tourism.

On the other hand, Egyptian Minister of Finance Ahmed Kouchouk informed QNA that the committee's seventh session encompassed diverse investment and industrial matters, presenting an opportunity to bolster bilateral coordination and regional issues coordination within the framework of existing cooperation between the two countries across various domains.

Kouchouk spotlighted the signing of an agreement with Qatar's Ministry of Finance on cooperation and coordination concerning customs policies, knowledge exchange, and seamless digital information exchange. He contended that the agreement would enable both sides to share transaction and new customs policy details, enhancing customs cooperation between Egypt and Qatar.

Kouchouk concluded by stating that cooperation seeks to minimize costs, expedite transaction documentation and exchange processes in real time, thereby facilitating seamless trade between the two nations.