Ukraine, Egypt discuss cooperation to increase trade and investment

Deputy Minister of Foreign Affairs of Ukraine Dmytro Senik and representatives of the Egyptian government and business have discussed the increase in trade and investment in Ukraine's economy.

“On April 6, Deputy Minister of Foreign Affairs of Ukraine Dmytro Senik conducted talks with Deputy Minister of International Cooperation of Egypt Sherihan Bekhit,” reads the report posted on the website of the Ukrainian Ministry of Foreign Affairs.

The parties agreed that Ukraine and Egypt have great opportunities to develop industries, energy, agriculture, tourism, and IT cooperation. Senik noted Ukraine's readiness to strengthen cooperation with Egypt in trade and investment, as well as seek ways to promote Ukraine’s products on Africa countries' markets.

The parties also discussed the preparations for holding the next meeting of the Intergovernmental Joint Commission in Cairo.

According to the ministry’s press service, Dmytro Senik also met with Secretary General of the Federation of Egyptian Chambers of Commerce Dr. Alaa Ezz.

“The Deputy Foreign Minister and the Secretary General discussed attracting new investments into the economy of Ukraine, confirmed the willingness to intensify B2B contacts between Ukrainian and Egyptian companies, including the signing of a Memorandum of Cooperation between the Council of Exporters and Investors at the Ministry of Foreign Affairs of Ukraine and the Federation of Egyptian Chambers of Commerce,” reads the report.

As part of his official visit, Senik also met with the Egyptian Space Agency Head Dr. Mohamed El Koosy.

The parties welcomed the positive experience of Ukrainian-Egyptian cooperation in the peaceful use of outer space. They also agreed to speed up the development of a memorandum on space industry cooperation between the two countries.

As a reminder, Egypt is a key economic partner of Ukraine on the African continent. In 2020, the total volume of trade in goods and services between Ukraine and Egypt amounted to $1.8 billion. Last year, Egypt was visited by 727,000 Ukrainian tourists. According to this indicator, Ukraine took first place among all foreign countries.

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