These events offer direct investment opportunities and joint investment, highlighting Egypt’s comparative advantages as an industrialization export hub to free trade zones
As Egypt’s COVID-19 wave persists, the Federation of Egyptian Chambers of Commerce (FEDCOC) held a series of international meetings in efforts to support the national economy.
The meetings centered on developing commodity exports, tourism relations with countries that have begun to allow travel to Egypt, and on opening new markets for Egyptian products.
It also aims to attract new foreign direct investments (FDIs) to the Egyptian market, said Ibrahim El-Araby, President of the FEDCOC and Head of the Union of African Chambers of Commerce, Industry, Agriculture and Professions (UACCIAP).
When commenting on the meetings, El-Araby stated that the federation has already prepared several meetings and activities.
These events offer direct investment opportunities and joint investment, highlighting Egypt’s comparative advantages as an industrialization export hub to free trade zones.
El-Araby said that these activities included over 10 virtual international conferences and exhibitions with China, the European Union (EU), Ukraine, South Korea, and member states of the UACCIAP.
FEDCOC’s president also added that more international events will be held in the coming period.
The federation will participate with a delegation of 20 companies in the Egyptian Products Exhibition later this month, which will take place in the South Sudanese capital, Juba, to open other markets up to Egyptian products.
The Egyptian-Kazakhstan Business Forum in Sharm El-Sheikh, attended by 120 Kazakh companies, was also part of their activities.
Other activities include the organization of the Egyptian-Croatian Business Forum in the presence of the two countries’ Ministers of Foreign Affairs, and 40 Croatian companies. This was in addition to the Egyptian-Guinea Business Forum, which was held in the presence of the Ministers of Foreign Affairs and Electricity.
Furthermore, an Egyptian-African delegation will participate in the fourth Belarus-African conference and exhibition in Minsk. This is set to discuss opportunities for using Egypt as a manufacturing base for exporting Belarusian products to African markets. This will take place within the framework of the African Continental Free Trade Area (AfCFTA).
In June, the FEDCOC will participate in organizing the Egyptian-Polish Business Forum in the presence of the deputy foreign ministers from both countries and 25 Polish companies seeking to invest in Egypt. The companies are working in the fields of digital economy, transport, logistics, and industry.
Signing an agreement to establish a Polish industrial zone in the Suez Canal axis is also expected to happen soon.
The FEDCOC will also organize the Egyptian-Ukrainian Business Forum in cooperation with the Federation of Ukrainian Chambers. This will take place on the sidelines of the eighth meeting of the Ministerial Committee for Economic and Scientific Cooperation.
It will occur in the presence of the Ministers of International Cooperation from both sides. Additionally, a delegation of Egyptian companies will travel to Ukraine and Kazakhstan, with the aim of working to promote Egyptian exports, attract new investments, and support the tourism sector.
