Arab Republic of Egypt Ministry of Investment and Foreign Trade General Organization for Export and Import Control

Engineer Hassan El Khatib, Minister of Investment and Foreign Trade, participated in the events of Egypt-France Business Forum, held in Cairo in the presence of His Excellency President Abdel Fattah El Sisi, President of Arab Republic of Egypt, and His Excellency President Emmanuel Macron, President of the French Republic.

Eng. Essam El-Naggar, Chairman of the GOEIC, and leaders from Ministry of Investment and Foreign Trade also participated in the events of the Egypt-France Business Forum.

The Minister expressed his warm welcome to all participants in the Egypt-France Business Forum, which is being held in the presence of the leaderships of both countries. This forum reflects the depth of the historical, economic, and strategic relations between Egypt and France, under a mindful political leadership that recognizes the importance of strengthening the partnership and expanding areas of economic cooperation in a way that achieves the interests of both countries in a sustainable and fruitful manner.

Al-Khatib said that France is a strategic partner for Egypt at the investment and trade levels, as French companies play a prominent role in many vital sectors, such as manufacturing and pharmaceutical industries, communications, information technology and digital transformation, transportation and infrastructure, and banking and financial services. These sectors constitute the backbone of the national economy and reflect the great confidence that Egypt enjoys from the French investors.

The Minister added that current French investments in Egypt amount to approximately $7.7 billion, through 180 French companies that provide approximately 50,000 job opportunities. He noted that trade exchange between the two countries reached $2.8 billion in 2024, with an increase of 14% compared to 2023, and that Egyptian exports to France amounted to approximately $1 billion, opening up broad prospects for enhancing economic and trade cooperation between the two countries.

Al-Khatib indicated that the government aims to double the volume of the French investments in Egypt during the next few years and increase trade between the two countries to record levels surpassing those achieved in previous years, in an effort to advance the Egyptian-French economic partnership to more ambitious horizons.

"Al-Khatib" noted that although the economic and trade challenges and rapid geopolitical changes facing the world, these circumstances are actually driving Egypt to intensify cooperation with its partners, unify efforts, and transform challenges into real opportunities for economic growth and achieve sustainable development.

He added that Egypt has achieved a qualitative leap in the infrastructure during the past decade, whereas a large number of major projects was implemented, including the establishment of new cities and development of road networks, commercial ports, and modern airports, in addition to advanced transportation projects such as the Monorail, subways, and high-speed railways, as well as several projects in the fields of new energy, electricity, water, and other areas.

"Al-Khatib" referred that the Egyptian government is currently working to build on these achievements to achieve a more competitive and attractive investment climate for both local and foreign investors, based upon transparency and clarity in policies, providing a supportive institutional and legislative environment, improving the business environment, simplifying procedures, and overcoming challenges facing investors, while strengthening the role of the private sector as a key partner in development.

The Minister continued that Egypt focuses on three clear strategic objectives, including adopting policies stimulating the investment along with reducing financial and procedural burdens on investors, empowering the private sector to be the primary driver of the economy and a leader in the development process; in addition to adopting trade policies that are open to the world, targeting increased Egyptian exports, reducing the trade deficit, and encouraging national investments in the high added value productive sectors.

"Al-Khatib" added that Egypt enjoys unique competitive advantages, most notably its unique strategic location, that provides easy access to the markets of Europe, Africa, and Asia, an advanced infrastructure making it a major regional center in global supply and value chains; in addition to its young, highly skilled workforce, exceeding 31 million, with competitive wages and its diverse renewable energy sources, such as solar and wind energy, and its free trade agreements with more than 70 countries around the world.

The minister said that Egyptian-French ties are not limited to trade and investment exchanges alone, but rather they extend to a comprehensive strategic partnership, opening up broader field for regional cooperation and expanding joint projects in various fields.

Al-Khatib called on the French Business Community for exploring the promising opportunities offered by Egypt in several fields, including, but not limited to, the green transformation, new and renewable energy, manufacturing industries, and the digital economy. These sectors represent the principal drivers of sustainable growth and innovation in tomorrow's economy and offer broad scope for growth in the partnership between the two countries.

The Minister indicated that the Egyptian market represents a strategic window before the French investments to access markets in the Middle East and Africa, while the French market is one of the most significant destinations for Egyptian exports, regarding its leading position in the European Union. He asserted that Egypt and France are moving forward together towards a deeper and more prosperous economic partnership that guarantees the interests of both countries and achieves sustainable development for the Egyptian and French peoples.