Egypt Assistant FM holds high-level meeting on political-trade ties with Canada - Foreign Affairs
The meeting, which included senior officials from key ministries and national bodies as well as several Egyptian parliamentarians, focused on reviewing the progress of joint projects with Canada.
Participants discussed frameworks designed to ensure continuity in building on the positive outcomes of the Egyptian delegation's recent visit to Canada, which included representatives from the Ministries of Investment and Foreign Trade, Petroleum and Mineral Resources, as well as business leaders and parliamentarians.
The meeting also highlighted the need to sustain momentum in supporting Egypt's national strategy to boost investment opportunities, considering the economic dimension as a top priority of Egypt's foreign policy, particularly in terms of attracting foreign investments and increasing trade volume.
The participants reviewed key investment opportunities in the Egyptian market for Canadian companies and explored ways to attract Canadian capital to the market.
They emphasised Egypt's strategic potential to serve as a gateway for Canadian businesses into African and European markets, primarily through localised production in vital sectors such as infrastructure, agriculture, and energy.
During the meeting, Aboul-Enein underscored the importance of continuously monitoring the outcomes of the consultations to ensure effective implementation of agreed-upon measures.
He also highlighted the progress already achieved and stressed the need to maintain the same pace of work to enhance investment prospects, increase trade exchanges, and strengthen bilateral relations.
In 2024, Egypt exported goods worth $197 million to Canada, while imports from Canada totalled $369 million, according to the Central Agency for Public Mobilisation and Statistics (CAPMAS).
During the 2023/2024 fiscal year, Egyptian investments in Canada reached $85.3 million. Meanwhile, Canadian foreign direct investments in Egypt amounted to $122.5 million.
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