By: Marwa Al-wageeh
UK Trade Envoy Sir Jeffrey Donaldson concluded a successful trade mission where he was accompanied by over 50 companies, the biggest delegation Egypt has seen in twenty years. During the five-day visit, the mission met with leading Egyptian officials and business people in Cairo and Alexandria to explore business opportunities across Egypt in job-creating sectors such as transportation, health, manufacturing, energy and education.
During his visit, UK’s Trade Envoy met with Minister of Investment Sahr Nasr, Minister of Health Dr Ahmed Rady, Minister of Trade Tarek Qabil, Minister of Education Dr. Tarek Shawky and Minister of Higher Education Dr. Khaled Abdel Ghaffar. The delegation included the 33 companies from the Scottish Development International and six from the Energy Industries Council, whose companies focus on the oil and gas industry. It also includes 14 companies from the transport and healthcare sector, and four companies focused on opportunities in the education sector.
The visit comes at a time when the UK is further deepening economic ties with Egypt. The past year has seen a number of high profile announcements, including a EGP 1.7bn investment in BenBan solar project, a new production facility for SEWS and a joint-venture industrial complex for high quality medical supplies. This week, BP announced that their Atoll Phase One project, involving almost $1bn of investment, started production seven months ahead of schedule.
British Ambassador John Casson said: “Visiting delegations plant the seeds for future investment, as we saw with the series of high-profile announcements following Sir Jeffery’s visit last year. We kick off 2018 with the largest mission the country has seen in two decades, which reflects Britain’s commitment to the long term success of Egypt and its people. We are committed to remaining Egypt’s number one economic partner post-Brexit. That’s why we’re working closely with the Egyptian government to keep UK-Egyptian trade flowing from day one of Brexit, and to open the way for even more trade and investment in the years to come.”
UK Trade Envoy Sir Jeffrey Donaldson said: “The economic relationship between Egypt and the UK continues to go from strength to strength. The UK is already Egypt’s top economic partner, and I’m proud this week to head up the largest delegation I’ve ever brought to Egypt, and the largest delegation in twenty years. It shows that UK companies are increasingly looking to Egypt for opportunities for investment and trade. Our joint work with the Egyptian government will make sure that, post-Brexit, our trade and investment links will continue to grow.”
Minister of Trade Tarek Qabil said: “As part of Egypt’s vision 2030 and my Ministry’s 2016-20 Development Plan, I am working hard to create a business climate that will strengthen the national economy by integrating Egyptian businesses into global supply chains. I am therefore pleased to see the UK’s Trade Envoy, Sir Jeffery Donaldson, bring his largest ever trade delegation this month, who are here looking for investment and trade opportunities. The UK is leaving the EU next year. I am working closely with Sir Jeffery and the British Embassy in Cairo to ensure our strong trade links and our trade terms are unaffected by the UK’s exit, and to work with the UK on how we can improve our strong and longstanding trade links in the future.”