Egypt and Switzerland Launch Joint Economic Committee to Boost Bilateral Ties
H-Tayea
The Ministry of Planning, Economic Development and International Cooperation chaired the first meeting of the Egyptian-Swiss Joint Economic Committee in Bern, Switzerland, marking a significant step forward in the two countries' economic, trade, and investment partnership. This meeting followed the agreement signed earlier this year at the World Economic Forum in Davos between Minister Dr. Rania Al-Mashat and Swiss State Secretary for Economic Affairs, H.E. Helene Budliger.
Held at the technical level, the meeting brought together representatives from Egypt's Ministries of Foreign Affairs, Finance, Investment and Foreign Trade, Labor, the Central Bank of Egypt, as well as private sector companies and business community leaders from both countries. It provided a platform to advance bilateral cooperation and reinforce private sector engagement.
Dr. Rania Al-Mashat emphasized that the Egyptian-Swiss Joint Economic Committee reflects both nations' mutual commitment to strengthening economic relations, exploring new investment opportunities, addressing trade challenges, and modernizing existing agreements to better serve evolving economic needs. She described the committee as a vital mechanism to deepen bilateral collaboration and facilitate access to new markets.
The Egyptian side highlighted the country's ongoing reforms under the National Structural Reform Program, aimed at enhancing macroeconomic stability, ensuring predictable fiscal and monetary policies, and fostering a competitive and investor-friendly business environment. Special attention was given to Egypt's successful fourth review under its IMF-supported program, its growing trade profile under the African Continental Free Trade Agreement and the European Free Trade Agreement, and its strategic trade positioning.
Switzerland is currently Egypt's largest trading partner in Africa, with more than 100 Swiss companies operating in key sectors including pharmaceuticals, logistics, food and beverage. Bilateral trade is thriving, with Swiss exports to Egypt exceeding $1 billion in 2023 and Egyptian exports to Switzerland reaching $470 million. Additionally, over 82,000 Swiss tourists visited Egypt last year, reflecting growing people-to-people ties.
The Committee also discussed future coordination under the new 2025–2028 Swiss cooperation program in Egypt. Three key meetings took place: one with the Swiss Agency for Development and Cooperation to finalize cooperation priorities; another with the Swiss-African Business Chamber to discuss Egypt's potential as a gateway for Swiss-African collaboration; and a third with Swiss Re, focused on advancing risk management and agricultural cooperation.
The Egyptian delegation reaffirmed Egypt's commitment to enhancing private sector involvement, expanding investment opportunities, and implementing the State Ownership Policy Document to promote fair competition and economic sustainability. Both sides agreed to continue close coordination, align efforts with Egypt's Vision 2030, and prioritize joint investments in human capital and sustainable development.
With over 45 years of bilateral cooperation, the evolving Egyptian-Swiss partnership stands as a model for productive international collaboration in trade, investment, and development.
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