His Majesty’s Trade Commissioner for Africa, John Humphrey, visited Egypt for the first time this week to enhance UK-Egypt trade and investment co-operation, focusing on green transition, tourism, aviation and core infrastructure.
During his week-long visit, John Humphrey met key ministers across the Egyptian Government, including Minister of Foreign Affairs, Emigration and Egyptian Expatriates, H.E Badr Abdelatty and Minister of Trade and Investment, HE Hassan El-Khatib, where they discussed ways of strengthening the UK-Egypt £4.7 billion trade and investment relationship to support economic prosperity for both countries.
Additionally, Mr Humphrey met Minister of Tourism, HE Sherif Fathy, and reaffirmed the UK’s commitment to help Egypt meet its ambitious tourism targets, through commercial flight routes, such as the recently announced Liverpool to Luxor route, and targeting UK trade and investment to improve the tourist experience.
Mr Humphrey also met Minister of Civil Aviation, Pilot Sameh El-Hefny to discuss strengthening bilateral co-operation on the development and operation of Egyptian airports, including welcoming EgyptAir’s recent order of 10 new Airbus aircraft designed for efficiency and reduced emissions.
Finally, Mr Humphrey had the opportunity to attend Egypt’s International Airshow at El-Alamein International Airport and visit the MCV factory to see CEO Karim Ghabbour, and some of the trademark double deck London buses that assembled here and exported to the UK.
The visit to Egypt follows a business delegation of 31 UK companies who visited in June this year to build future trade partnerships and investment deals. This important delegation met with senior Egyptian government officials and conducted 250 business to business meetings with Egyptian counterparts.
Building on the trade ties strengthened by Mr Humphrey’s visit, an Egyptian business delegation led by the British Egyptian Business Association (BEBA), will visit the UK from the 18th to the 20th of September to unlock investment opportunities in Egypt.
The event will be attended by: HE Ahmed Kouchouk, Minister of Finance; HE Hassan El Khateeb, Minister of Investment; HE Walid Gamal El Din Chairman of the SCEZ; HE Dr Mohamed Farid, Chairman of FRA; HE Rami Aboul Naga Deputy Governor of the Central bank and HE Khaled Abass Chairman of the New Capital. The event will also highlight the Egyptian government’s efforts in attracting investment and accelerating private sector growth, while modernising regulations across key sectors like energy, infrastructure, manufacturing and finance.
Reflecting on his visit, John Humphrey said:
It’s a great pleasure to be in Egypt looking into potential opportunities to boost the UK-Egypt trade and investment relationship. The highlights include an exciting visit to the new El-Alamein City, one of the 37 planned new cities in Egypt, which serves as a tangible example of how these kinds of plans can become a reality. It is a perfect illustration of why thousands of UK tourists flock to Egypt every year, to witness its beautiful beaches and wonderful climate.
The UK Department for Business and Trade (DBT) and UK Export Finance (UKEF) work hand in glove in Egypt, and UKEF has £2 billion available for projects in all sectors, including those that harness Egypt’s incredible potential to become a renewable energy superpower and to build sustainable cities.
British Ambassador to Egypt, Gareth Bayley, added:
The UK is committed to a growing and prosperous UK-Egypt trade and investment partnership, especially in the areas of renewable energy, tourism and core infrastructure. Our strong bilateral trade relationship is valued at £4.7 billion annually, and the UK is one of Egypt’s largest foreign direct investors. His Majesty’s Trade Commissioner for Africa’s recent visit demonstrates the growing opportunities found here, especially with. Egypt’s strategic position as a gateway into Africa. I believe the future of trade and investment between our two countries has huge potential."
Distributed by APO Group on behalf of Government of UK.
