Latest news with #Egyptian-Swiss
Daily News Egypt
10-05-2025
- Business
- Daily News Egypt
Egypt, Switzerland hold inaugural Joint Economic Committee in Bern
Egypt and Switzerland convened the first meeting of their Joint Economic Committee in the Swiss capital, Bern, chaired at a technical level by Egypt's Ministry of Planning, Economic Development and International Cooperation. The meeting aimed to advance economic, trade, and investment relations between the two nations. The discussions followed the signing of an agreement to establish the committee by Al-Mashat, and Helene Budliger, Swiss Director of the State Secretariat for Economic Affairs, at the World Economic Forum in Davos in January. Al-Mashat stated: 'The Egyptian-Swiss Committee is a platform to advance economic, trade, and investment relations between the two countries.' She emphasised the committee's role in exploring new opportunities, resolving challenges, and evaluating existing economic agreements to align with mutual interests. The committee addressed the development of cooperation, enhancing private sector partnerships, and the joint cooperation programme for 2025-2028. Egyptian officials from ministries including Foreign Affairs, Finance, Investment and Foreign Trade, and Labour, alongside the Central Bank of Egypt and business representatives, participated. Al-Mashat noted that Egyptian-Swiss relations have significantly evolved, with Egypt currently being Switzerland's largest trading partner in Africa. The Egyptian delegation highlighted national efforts to improve the investment climate and strengthen macroeconomic stability through the National Structural Reform Programme, and pursuing predictable fiscal and monetary policies. Discussions covered outcomes of Egypt's economic reforms, the fourth review of its programme with the International Monetary Fund (IMF), and developing trade relations, leveraging agreements like the African Continental Free Trade Agreement and the European Free Trade Agreement. Egyptian officials affirmed ongoing efforts to foster a favourable investment environment, improve the business climate, ensure fair competition, and increase private sector participation. Both sides agreed to continue dialogue and coordination to facilitate investments, support the new Swiss cooperation programme in Egypt (2025-2028). Side meetings included discussions with the Swiss Agency for Development and Cooperation on the upcoming cooperation programme; the Swiss-African Business Chamber on potential cooperation in Africa via Egypt, including a planned June event in Geneva; and insurance company Swiss Re, focusing on risk management and agricultural sector cooperation proposals for Egypt. Egyptian-Swiss relations span over 45 years, with Switzerland being a development cooperation partner since 1979. In 2023, Egypt's exports to Switzerland reached $470m, Swiss exports to Egypt totalled $1bn, and over 82,000 Swiss tourists visited Egypt.
See - Sada Elbalad
10-05-2025
- Business
- See - Sada Elbalad
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. 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 Egypt confirms denial of airspace access to US B-52 bombers Lifestyle Pistachio and Raspberry Cheesecake Domes Recipe News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia News Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content Arts & Culture Nicole Kidman and Keith Urban's $4.7M LA Home Burglarized Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Videos & Features Bouchra Dahlab Crowned Miss Arab World 2025 .. Reem Ganzoury Wins Miss Arab Africa Title (VIDEO) Sports Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Arts & Culture New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple
Egypt Today
10-05-2025
- Business
- Egypt Today
1st meeting of Egyptian-Swiss economic committee held in Bern
This comes within the framework of Egypt's prioritization of enhancing trade and investment relations with various countries around the world, attracting investments and opening markets for Egyptian exports, as well as the efforts made by Egyptian embassies in their respective host countries in this regard. Egypt's Ambassador to the Swiss Confederation Mohamed Negm stated during the celebration held on this occasion that the first meeting of the Joint Economic Committee represents an important milestone in Egyptian-Swiss cooperation and a serious step toward strengthening economic relations between the two countries in line with their shared aspirations for sustainable development across various sectors. He also expressed his hope that the Joint Economic Committee would become an effective platform for enhancing relations, facilitating mutual investment opportunities, boosting trade, attracting investments, exploring new market opportunities and addressing the challenges of economic relations and trade issues raised by the private sectors of both countries. He highlighted that Egypt serves as a regional hub for supply chains for European companies and for the transfer and distribution of renewable and green energy, given its geographic proximity, strategic location and the unprecedented boom in infrastructure development it has witnessed in recent years. He stressed the potential of this committee to expand cooperation in new areas in light of Egypt's recent achievements in private sector development, infrastructure growth and strengthening economic institutions. Egypt is Switzerland's top trading partner in Africa and the largest market for Swiss exports on the continent. The trade volume between the two countries amounts to approximately 1.26 billion Swiss francs. Switzerland is also the seventh-largest foreign investor in Egypt, with total direct Swiss investments estimated at around 1.2 billion US dollars. About 100 Swiss companies operate in Egypt, creating over 25,000 job opportunities, primarily in the energy, pharmaceutical and food industries.
