Investment and Foreign Trade Minister Mohamed Farid Saleh has discussed with Singaporean Ambassador to Egypt Dominic Goh ways to strengthen investment and trade ties between the two countries and increase mutual investments, as well as opportunities for Singaporean companies to expand their business in Egypt and attract new investments.
The minister called for building on the positive development witnessed in Egyptian-Singaporean relations in recent years and advancing them to a more advanced stage based on economic partnerships supporting bilateral trade and investment, highlighting the importance of benefiting from Singapore’s advanced expertise in financial center management, digital transformation, logistics and supply chains.
Saleh underscored the significance of intensifying meetings and promotional efforts to present available investment opportunities in Egypt to Singaporean companies and encourage the existing companies to expand their business, while attracting new investments in priority industrial and productive sectors.
The pair also tackled how to promote Egypt as a production and export hub for regional and international markets, capitalizing on its strategic geographic location and trade agreements it signed with Arab, African and European markets.
The meeting tackled means of increasing Egyptian exports to the Singaporean market and improving the trade balance between the two countries by identifying competitive Egyptian products with potential for market access and expansion in Singapore, while assessing market requirements and mechanisms to facilitate the entry of Egyptian products into the market.
Saleh and Goh explored opportunities to benefit from Singapore’s expertise in developing logistics and supply chains, contributing to the development of logistics infrastructure, industrial zones and distribution centers, as well as potential cooperation in carbon certification and sustainability.
They also reviewed a proposal to organize a promotional mission to Singapore to highlight investment opportunities and economic cooperation in Egypt and promote priority sectors and projects.
The two sides stressed the importance of continued communication, coordination and follow-up on the expansion plans of existing Singaporean companies in Egypt and new investments, as well as working to address any challenges facing investors in a manner that strengthens economic, investment and trade relations between the two countries.
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