Latest news with #Egyptian-CanadianBusinessCouncil
Al-Ahram Weekly
18-07-2025
- Business
- Al-Ahram Weekly
Egypt Assistant FM holds high-level meeting on political-trade ties with Canada - Foreign Affairs
Assistant Foreign Minister for US Affairs Sameh Aboul-Enein convened a high-level coordination meeting on Friday with members of the Egyptian-Canadian Business Council to follow up on the outcomes of the political and trade consultation round held in April. 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. Follow us on: Facebook Instagram Whatsapp Short link:
Egypt Today
28-01-2025
- Business
- Egypt Today
Egypt Targets 20% Growth in Agricultural Exports by 2025
CAIRO – 28 January 2025: Egypt is set to boost its agricultural exports by 20 percent in 2025, driven by the expansion of cultivated land by approximately 2.2 million feddans in the New Delta, according to Alaa Farouk, Minister of Agriculture and Land Reclamation. Speaking at the Egyptian-Canadian Business Council event, Farouk revealed that the country's agricultural exports in 2023 reached a value of $10.6 billion. In 2024, agricultural exports increased by 11 percent year-on-year, totaling 8.6 million tons, with citrus exports leading at approximately 2.4 million tons, based on data from the Ministry of Agriculture. Starting in 2026, Egypt plans to double its agricultural exports, supported by the government's control over most cultivated areas and further expansion in agricultural land. Farouk emphasized the private sector's critical role, highlighting ongoing discussions with four companies interested in agricultural manufacturing in Egypt. This comes after the government approved a strategy in July to increase cultivated areas to 11 million feddans by FY2026/2027, up from 10 million feddans currently. Despite global challenges such as rising fertilizer prices, the government continues to support small-scale farmers by providing subsidized fertilizers, ensuring agricultural productivity and export competitiveness remain strong.
