UK’s Minister of State for the Middle East at the Foreign and Commonwealth Office, Alistair Burt, and Minister of International Trade Baroness Fairhead will sit down with Egypt’s Finance Minister Mohamed Moeit.
The meeting aims to explore developing the commercial relationship between Britain and Egypt, and how both governments can support growing private sector ties, affirmed a Wednesday’s statement from the embassy.
A week of high-level business meetings look to take Britain and Egypt’s trade relations to new heights, mentioned the statement, explaining that British ambassador to Egypt Sir Geoffrey Adams, UK Trade Envoy Sir Jeffrey Donaldson, and Egyptian ambassador to the UK Tarek Adel welcomed an Egyptian business delegation headed Moeit to Britain.
Over 40 companies joined the British Egyptian Business Association (BEBA) delegation to explore bilateral investment opportunities, and potential partnerships in sectors including healthcare, education, oil and gas, and finance.
As well as meeting with government and business leaders in London, the delegation is looking to strengthen ties with Britain as a whole, visiting Manchester and Liverpool to explore opportunities for trade and investment links, noted the statement.
The BEBA delegation visit to Britain coincides with a visit to Egypt from the Chief Executive of UK Export Finance (UKEF) Louis Taylor, who will be meeting with Minister of Petroleum Tarek El Molla and representatives from the ministry of finance, added the statement.
UKEF is the UK’s government export finance agency, which works to provide UK companies with access to export finance in support of their investments abroad, mentioned the statement.
Since Louis Taylor’s visit to Egypt in June this year, UKEF has been working on the development of Tahrir Petrochemicals Complex alongside other export credit agencies, commercial banks and Egyptian company Carbon Holdings, affirmed the statement.
“This visit will explore further opportunities for UKEF to support financing to boost UK-Egypt trade,” said the statement.
British ambassador to Egypt Sir Geoffrey Adams said that The UK and Egypt remain committed to developing their partnership, which is already worth £3bn a year, adding, “These series of high-level engagements show how much will and potential there is for increased cooperation. The trade ties between our two countries result in mutual economic growth in strategic and job-creating sectors, benefiting us all.”
