10-05-2025
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.
