Egypt's Planning and International Cooperation Minister meets Vietnamese deputy PM to implement economic pacts
The meeting took place during an official visit by Vietnamese President Luong Cuong, who met with his Egyptian counterpart, Abdel Fattah Al-Sisi. The two presidents announced the elevation of bilateral relations to the level of a Strategic Partnership, Al-Mashat's ministry said in a statement.
Al-Mashat and the Vietnamese deputy prime minister discussed preparations for the sixth session of the Joint Committee between the two countries. They also highlighted an agreement to form sub-committees in areas of mutual interest and to hold a business forum and workshops during the next Joint Committee meeting.
'Egypt is Vietnam's largest trading partner and its most important export market in North Africa,' Al-Mashat said, adding that each country serves as a strategic gateway for the other's exports—Egypt to the Middle East and Africa, and Vietnam to the Asian market.
The minister also reviewed the measures taken by the Egyptian government to enhance the business and investment environment and implement economic and structural reforms to increase the competitiveness of the Egyptian market for Vietnamese companies. She reiterated Egypt's keenness to learn from Vietnam's development experience through the exchange of knowledge.
For his part, the Vietnamese Deputy Prime Minister and Minister of Foreign Affairs lauded the development achievements made by Egypt and welcomed the elevation of bilateral relations. He also emphasised the necessity of creating an executive plan to finalise the agreements reached during the meeting between the two presidents.
Egypt and Vietnam established full diplomatic relations in 1963. A joint ministerial committee was formed in 1997 and has held five sessions to date. In 2017, President Sisi made the first-ever visit by an Egyptian president to Vietnam, which was followed by a state visit to Egypt by the late Vietnamese President Tran Dai Quang in 2018
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
See - Sada Elbalad
2 hours ago
- See - Sada Elbalad
Iran's FM Praises ‘Qualitative Leap' in Ties with Egypt
Ahmed Emam Iranian Foreign Minister Abbas Araghchi has lauded the progress in relations between Cairo and Tehran, describing the past year as a turning point in bilateral ties, according to Iran's state news agency IRNA. Speaking on the restoration of diplomatic relations, Araghchi said: 'Our relations with Egypt have seen a qualitative leap over the past year. During this period, I met with the Egyptian president four times — more than I have met any other president, even from countries with which we have close ties. For example, I met Vladimir Putin only twice, and the same applies to other neighboring leaders. As for Egypt's foreign minister, I believe I met him more than ten times last year, and our phone calls have far exceeded that number. Most of these contacts were about bilateral relations, though the Gaza and Palestine issue was also part of the discussions.' Araghchi stressed that Egypt is an important and influential country in the Islamic world, adding: 'We regularly consult with Egypt on issues related to Palestine, Gaza, the West Bank, Lebanon, Syria, the nuclear file, and the recent aggression. We have made good progress in bilateral ties, overcoming longstanding obstacles that should have been resolved long ago. For example, street names were changed, and the other side took steps I won't go into detail about, but the important thing is that there is a will to cooperate from both sides.' He noted that relations have exceeded expectations but said neither side is in a rush to formally announce them. 'This will happen when the time is right — likely in the coming months. If it weren't for the war and recent developments, we might have reached that stage sooner. However, it's not critical to speed up the process. The important thing is that we now have very good relations, like those between any two normal states.' read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters Arts & Culture "Jurassic World Rebirth" Gets Streaming Date News China Launches Largest Ever Aircraft Carrier News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia Business Egyptian Pound Undervalued by 30%, Says Goldman Sachs Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Arts & Culture South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle Arts & Culture Lebanese Media: Fayrouz Collapses after Death of Ziad Rahbani Sports Get to Know 2025 WWE Evolution Results
See - Sada Elbalad
6 hours ago
- See - Sada Elbalad
FM to receive Turkish counterpart tomorrow
Basant Ahmed Egyptian foreign minister Badr Abdel Atty is going to receive his Turkish counterpart Hakan Fidan on Saturday at 10:30 am Cairo local time. They will hold a bilateral session of talks then they will hold a press conference at the cabinet headquarters in New Alamein city. read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters Arts & Culture "Jurassic World Rebirth" Gets Streaming Date News China Launches Largest Ever Aircraft Carrier News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia Business Egyptian Pound Undervalued by 30%, Says Goldman Sachs Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Arts & Culture South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle Arts & Culture Lebanese Media: Fayrouz Collapses after Death of Ziad Rahbani Sports Get to Know 2025 WWE Evolution Results
Egypt Independent
7 hours ago
- Egypt Independent
Legal challenges to the Old Rent Law begin after ratification: Will the Constitutional Court intervene?
Following President Abdel Fattah al-Sisi's approval of the new Old Rent Law last Monday, a legal and constitutional debate has erupted over the future of the rental relationship between landlords and tenants. The new law introduces fundamental changes, which some have described as 'revolutionary,' to one of Egypt's most sensitive social and economic issues in decades. The law, which was finally approved by parliament after years of anticipation and conflict between landlords and tenants, has not put an end to legal disputes. Challenges are now being directed to the Supreme Constitutional Court, with calls for a constitutional review, especially concerning the law's intervention in contracts signed decades ago, some dating back to the first half of the last century. Dr. Hamdi Omar, a professor of constitutional law and a member of the Committee of Ten Experts who drafted the 2014 constitution, told Al-Masry Al-Youm that the Old Rent Law can be challenged before the Constitutional Court, despite the president's official approval. Omar explained that a challenge cannot be filed directly with the Constitutional Court. Instead, it must be initiated by an affected tenant filing a lawsuit with a competent civil court. During the proceedings, the tenant can argue for the law's unconstitutionality. If the judge finds the request to be serious, they can postpone the case for three months to give the affected party an opportunity to file a formal lawsuit with the Supreme Constitutional Court. He pointed out that the Constitutional Court does not accept direct lawsuits from individuals in order to maintain its organization and prevent legal chaos. Rather, the challenge must come from a judge presiding over an existing case. Dr. Omar revealed that the Constitutional Court has the authority to review the constitutionality of the Old Rent law on its own initiative if it finds any suspicion of unconstitutionality, even after President El-Sisi's approval. He predicted that, in either case, a final ruling on this law would not be issued for at least five years due to the usual legal procedures and judicial backlogs. He added that parliament, as the legislative authority, has the right to amend the law. He noted that the Constitutional Court had previously ruled in the 1990s that old leases could not be extended for more than one generation of heirs. The court also recently issued an important ruling calling for 'adjusting the rental value' to match the current economic situation. This gives parliament the right to reconsider the entire law. Dr. Omar emphasized that the Egyptian constitution protects both private property and the 'right to housing' simultaneously. This puts the legislator in a difficult position: how to strike a balance between a landlord who seeks a fair return on their property and a tenant who believes their contract was signed according to legal rules that had been in place for decades. He explained that while the contract between the two parties was legitimate at the time of its signing, the passage of time and the change in economic and social conditions necessitated a new law to reorganize the relationship. He also noted that many old rental contracts are now held by heirs, meaning the original contractual intent is absent. This, he said, gives the legislator a strong push to reorganize the relationship. Dr. Ahmed Saeed, a professor of constitutional law, stated that the new law in its current form carries a suspicion of unconstitutionality, especially if it includes the annulment of old contracts within a certain timeframe. He considers this a clear interference with the free will of contracting parties, which contradicts the provisions of the constitution. He affirmed that the constitution does not prevent parliament from intervening to regulate rental values, but this must be done gradually, respecting old contracts without completely nullifying them. Saeed proposed setting a starting rental value of EGP 1,000 per month, with an annual increase of 20% to 30 percent, until the rent gradually matches market values over a period of no less than seven years. He noted that the Supreme Constitutional Court had officially requested this amendment in its ruling issued in November 2024, emphasizing that the Egyptian parliament is obligated to issue legislation to address this point before the end of the current legislative session. He stressed that the court did not rule to abolish the old rent law itself, but merely rejected the stabilization of rental values for long-term contracts without justification. This means that a legislative remedy is necessary without infringing upon the core of the old contracts. The Constitutional Court issued a historic ruling in November 2024, affirming that stabilizing the rental value of lease contracts for up to 50 years constitutes a breach of economic justice. It ordered a legislative amendment to restore balance between the two parties. In response to this ruling, the House of Representatives voted to give final approval to the draft law last June, amid internal division but with a majority vote in favor of the law, before it was submitted to the President, who officially ratified it last Monday.
