Hassan El-Khatib, Minister of Investment and Foreign Trade, has met with Hani Salem Sonbol, CEO of the International Islamic Trade Finance Corporation (ITFC) and Acting CEO of the Islamic Corporation for the Development of the Private Sector, along with a delegation from both institutions.
During the meeting, Minister El-Khatib expressed his eagerness for enhanced cooperation between Egypt and the ITFC, as well as with the Islamic Corporation for the Development of the Private Sector. He emphasized the importance of implementing more programs and projects that would improve the investment climate, increase Egyptian exports to global markets, and expand green energy initiatives. He also noted that in the coming period, coordination will take place between ministry officials and the ITFC to include several programs aimed at facilitating trade and improving the business environment within the corporation’s 2025 work plan.
El-Khatib praised the programmes currently being implemented by the ITFC, particularly those supporting women’s projects in trade and manufacturing for export, as well as the Arab-African Trade Bridges programme.
Sonbol reiterated the corporation’s commitment to expanding cooperation with Egypt, given its diverse programs that aim to create a new generation of Egyptian exporters capable of reaching global markets, and empowering youth and women.
Sonbol highlighted that the ITFC will focus on increasing cooperation with its partners in programs such as the Arab-African Trade Bridges programme and the second phase of the Aid for Trade Initiative for Arab States (AfTIAS 2.0), which Egypt could benefit from.
The meeting also discussed ways to enhance cooperation between Egypt and the ITFC in the field of trade development, including the Export Academy, which aims to build the export capacity of entrepreneurs.
Additionally, the meeting reviewed the progress of the second phase of the “Training for Export” programme, and explored launching the second phase of the “Women in International Trade” project before the end of this year. The cooperation in the Arab-African Trade Bridges program was also discussed to ensure that Egypt benefits from its membership and to promote Egyptian products in African markets.
Furthermore, both sides explored ways to strengthen cooperation between the Ministry of Investment and Foreign Trade and the Islamic Corporation for the Development of the Private Sector, which specializes in providing various financial products to the private sector in member countries of the Islamic Development Bank, including Egypt. The corporation’s investments in Egypt amount to approximately $300m, provided as direct financing to private sector companies in the energy, food security, and industrial sectors, as well as financing lines for banks to support small and medium-sized enterprises, and partnerships in strategically important sectors.
The meeting was attended by Amani El-Wassal, Head of the Trade Agreements and Foreign Trade Sector; Amr Haza, Supervisor of Development Projects; and Mary Kamel, Executive Director of the Foreign Trade Training Center.
