Dr. Mohamed Farid, Minister of Investment and Foreign Trade:
- We are working toward transforming Egypt into a regional hub for the assembly and manufacturing of Belarusian equipment and tractors.
- The integration of investment and trade is the most important pathway for enhancing exports and opening new markets.
Director General of the National Export Promotion Center:
- We look forward to transforming bilateral agreements into tangible investment projects.
In continuation of the series of meetings held in the course of chairing the Egyptian-Belarusian Joint Committee convening in the Belarusian capital Minsk, Dr. Mohamed Farid, Minister of Investment and Foreign Trade (MIFT Minister), held a meeting with Mr. Mikalai Barysevich, Director General of the National Export Promotion Center in Belarus.
The meeting addressed ways to empower specialized institutions to develop bilateral trade between the two countries. Agreement was reached on enhancing the Egyptian-Belarusian joint cooperation in a manner that contributes to supporting trade flows and expanding the scope of partnerships between the private sectors on both sides, in addition to driving further trade and industrial integration in the coming period.
In this context, both sides explored opportunities for industrial and logistical integration, where the possibility of transforming Egypt into a regional hub for the assembly and manufacturing of Belarusian equipment and tractors was addressed, enabling the utilization of the free trade agreements to which Egypt is party with a number of Arab and African markets, thereby enhancing opportunities for access to new markets and increasing the volume of trade exchange between both sides.
The meeting also addressed the file of export development, where MIFT Minister reviewed promising opportunities where Egypt’s exports could access to the Belarusian market, particularly in the fields of fresh and frozen fruits and vegetables, in exchange for meeting the Egyptian market's needs for Belarusian dairy products and equipment, thereby enhancing supply chain integration between the two countries.
With regard to investment promotion, Dr. Farid affirmed Egypt’s readiness to provide various investment incentives to the Belarusian companies, while exploring the possibility of the Sovereign Fund of Egypt (TSFE) contributing to the financing of joint projects, particularly in the fields of localizing food and pharmaceutical industries, thereby supporting the increase of bilateral investments and the creation of long-term partnerships.
MIFT Minister affirmed in conclusion of the meeting that the strategy of the Ministry of Investment and Foreign Trade is premised on the integration of investment and trade to enhance the Egyptian exports and open new markets, noting that the Belarusian National Export Promotion Center represents a pivotal partner in supporting this orientation through providing the necessary data and analyses to enhance the access of the Egyptian products to the markets of the Eurasian region, thereby serving the interests of both countries.
On his part, Mr. Barysevich expressed his welcome of enhanced institutional cooperation with the Egyptian side, commending Egypt's strategic role as a principal gateway for the access of Belarusian products to the markets of Africa and the Middle East, and affirming his country's aspiration to activate the signed agreements and transform them into tangible projects.
