Egypt, Switzerland sign deal to boost trade, investment cooperation

Egypt and Switzerland signed on Tuesday an agreement to establish a joint economic committee to pave the way for stronger cooperation in trade, investment, and sustainable development.
The agreement was signed by Egypt’s Minister of Planning, Economic Development, and International Cooperation, Rania Al-Mashat and Helene Budliger Artieda, Switzerland’s State Secretary for Economic Affairs.
Prime Minister Moustafa Madbouly said the joint committee would serve as a crucial platform for enhancing trade, investment, and sustainable development initiatives between the two nations. He emphasised that the committee would facilitate the exchange of information on trade and investment, address challenges to economic growth, and update existing agreements to meet the evolving needs of both countries.
Minister Al-Mashat underscored the long-standing and fruitful cooperation between Egypt and Switzerland, which has spanned over 45 years. She commended Switzerland’s role as a reliable partner in supporting Egypt’s sustainable development goals, particularly in areas like green climate projects, women’s empowerment, and fostering private sector growth.
The total value of current bilateral cooperation stands at $71.6 million, funding nine ongoing projects. Minister Al-Mashat also pointed to the increasing focus on climate action and future collaborations in carbon emission reduction, renewable energy, and development projects across Africa.
Attribution: Amwal Al Ghad English