Egypt Today: Spain is the second-largest market for Egyptian exports, valued at €1.265 billion, with the total trade volume between the two countries reaching nearly €3 billion, according to Hassan El-Khatib, Egypt’s Minister of Investments and Foreign Trade.
El-Khatib shared these insights during his meeting with Spain’s Ambassador to Egypt, Alvaro Iranzo.
The meeting centered on strengthening and expanding bilateral economic relations across multiple sectors.
El-Khatib underscored the historical and strategic ties between Egypt and Spain, highlighting the mutual commitment of both governments to deepening cooperation, especially in trade, investment, and industry.
El-Khatib emphasized Egypt’s efforts to create an attractive investment climate for foreign investors and encouraged Spanish companies to seize the abundant opportunities in the Egyptian market.
Priority sectors for the Egyptian government include digital transformation, industrial localization, agriculture, transport, logistics, and renewable energy.
He reiterated the ministry’s commitment to addressing challenges faced by Spanish businesses in Egypt, aligning with the broader government initiative to enhance the country’s business environment.
El-Khatib also emphasized the importance of empowering the private sector as a cornerstone of Egypt’s economic development strategy under Vision 2030.
The minister highlighted Egypt’s network of free trade agreements with numerous countries, which facilitates access to global markets, lowers tariffs, and diversifies exports.
These agreements position Egypt as a key player in global and regional markets, driving economic growth and foreign investment.
El-Khatib also pointed to the EU-Egypt Partnership Agreement, which offers preferential access to European markets and encourages European investments in key sectors.
He expressed optimism about attracting more Spanish companies to invest in Egypt, taking advantage of its strategic location as a hub for exports and investments to global markets.
https://www.egypttoday.com/Article/3/136523/Egypt-s-exports-to-Spain-record-%E2%82%AC1-265B-Investment-Minister
