Egypt, Czechia prepare for 2nd joint economic committee

Egypt’s Ministry of Trade and Industry held a preparatory meeting to coordinate national efforts for the second session of the Egyptian–Czech Joint Economic Committee, scheduled for early July in Prague, the ministry announced.

Abdel Aziz El-Sherif, the first undersecretary of the ministry, discussed enhancing cooperation with Czech counterparts in automotive components, tyres, garments, pharmaceuticals, food industries, and green hydrogen.

A Czech–Egyptian business forum will be organised on the sidelines of the committee meetings to attract Czech investments to Egypt, particularly from small, medium, and micro-sized enterprises. European manufacturers are increasingly moving production to the Middle East and North Africa under the near-shoring model.

He emphasised that investing in the Egyptian market provides access to various Arab, African, and Latin American markets through trade agreements with regional blocs, according to the statement.

Economic relations between Egypt and the Czech Republic have significantly progressed, driven by both countries’ leadership commitment to deepening bilateral cooperation, the statement added.

Trade exchange between the two countries reached $531.5 million in 2024. Egypt’s top exports to the Czech Republic included wires and cables, wool and textiles, ready-made garments, electric appliances, and fruits.

Attribution: Amwal Al Ghad English
Subediting: M. S. Salama