Latest news with #HassanAl-Khatib
Egypt Independent
a day ago
- Business
- Egypt Independent
Investment Minister urges petrochemical companies to bolster partnerships with Egypt
'Egypt is working on developing several major petrochemical projects that will contribute to securing the needs of the local market and exporting the surplus,' Minister of Investment and Foreign Trade Hassan Al-Khatib said. Khatib was speaking during a roundtable event focused on the mining and petrochemical industries, held in Shanghai with the participation of representatives of major companies and investors to discuss partnership opportunities and increase investment flows between Egypt and China. Highlighting the strategic importance of the petrochemical sector for Egyptian industry, given its pivotal role in supporting a series of supplementary industries, Khatib said, noting that Egypt is working on an ambitious program to expand this sector and increase local production, which would contribute to cutting the import bill and increasing exports. As for the mining sector, the minister shed light on the government's reforms to create an investment-friendly environment. According to Egypt's Vision 2030, this sector is one of the main pillars of economic diversification and long-term growth, the minister said, noting that the government seeks to create more jobs, promote technology transfer, and optimize the use of mineral resources. Khatib said that the Egyptian government is moving forward with structural reforms in the petrochemical and mining industries, in support of the state's efforts towards a more resilient, diversified and sustainable economy. He called on international companies to build stronger partnerships with Egypt and contribute to the implementation of major projects under-construction in Egypt, to achieve mutual interests and promote sustainable growth.
Ya Biladi
28-02-2025
- Business
- Ya Biladi
Morocco and Egypt agree to strengthen trade, address obstacles hindering it
In an effort to strengthen the economic and commercial partnership between Morocco and Egypt, a joint meeting was held in Rabat, chaired by Riad Mazour, Morocco's Minister of Industry and Trade, and Hassan Al-Khatib, Egypt's Minister of Investment and Foreign Trade. The meeting also featured the participation of Omar Hegira, Morocco's Secretary of State for Industry and Trade, responsible for Foreign Trade. During the session, the ministers emphasized the deep-rooted historical ties of friendship and cooperation between the two nations and stressed the importance of further enhancing these bonds through more effective bilateral collaboration. They explored promising trade and investment opportunities and highlighted the preferential legal frameworks that could support and advance their future trade relations. Secretary of State Hegira underscored the significance of the talks, stating, «During this visit, a series of fruitful discussions took place, focusing on the current state of trade relations and future prospects, particularly regarding the trade balance deficit we are currently facing». He also pointed to Egypt's commitment to hosting Moroccan exporters in the coming weeks, an initiative designed to strengthen trade ties and expand Moroccan exports, particularly in the automotive sector. Egypt's Minister of Investment and Foreign Trade, Hassan Al-Khatib, noted that the visit underscored the longstanding and robust relationship between Morocco and Egypt. Al-Khatib emphasized that the meeting aimed to align the two countries' perspectives and reorganize issues related to bilateral trade, thus streamlining the trade exchange process. The ministers agreed to establish a direct communication channel to identify and address any obstacles hindering trade between the two countries. They also discussed intensifying efforts to increase Moroccan exports to Egypt, especially in the automotive sector, and introduced a fast-track system in Egypt to expedite Moroccan exports. Plans were made to organize a B2B business and economic partnership forum in April 2025, aimed at fostering partnerships and business networks between the private sectors of both countries. In addition, both sides agreed to activate the Business Council to boost bilateral trade relations and to prepare for the convening of the Joint Commercial Committee. Both parties emphasized the importance of ongoing coordination on various mutual interests, particularly in the industrial sector, with a focus on developing joint investment projects.
