The Egyptian Business Council for International Cooperation (EBCIC) continues its first mission to Latvia which is headed by the EBCIC Chairperson, Motaz Raslan, with the aim of discussing new cooperation opportunities in the fields of information technology, food industry, and agriculture.
The mission met with the Head of the Economic Relations, Trade, and Development Cooperation Directorate at the Latvian Ministry of Foreign Affairs, Juris Štālmeistars, according to a statement of the EBCIC.
The visit is organised in association with the embassy of Latvia in Egypt, the Investment and Development Agency of Latvia (LIAA) and the General Authority for Investment and Free Zones (GAFI).
In his address to the delegation consisting of CEOs and owners of a number of leading Egyptian companies, Štālmeistars emphasised the constructive political and economic dialogue between the two countries.
Štālmeistars also called for the expansion of current cooperation in areas such as transport and logistics, agriculture, food processing, timber and chemical industries, as well as seeking synergies in information technology and innovation.
Economic relations, as a vital element in the bilateral dialogue, was also highlighted by the Egyptian ambassador to Latvia, Alaa Hegazy. Representatives from LIAA, GAFI, the Riga Free Port Administration, and several companies operating in the region, presented to the audience the advantages of Latvia’s business environment and outlined concrete interests concerning future cooperation.
Latvia’s export to Egypt have considerably increased in comparison to 2017, amounting to €70m. Since the opening of the Latvian Embassy in Cairo in 2007, the total turnover of trade between the two countries has increased almost tenfold, according to official statistics
The Egyptian mission also met with officials at the ministries of economy, and agriculture in addition to organising visits to several Latvian manufacturing companies.
During the official meetings, Raslan presented the recent economic reforms and the improvements that the business climate is witnessing, calling on the Latvian side to visit Egypt to continue the boosting of cooperation discussions.