Xiana Méndez Bértolo, the Spanish Secretary of State for Trade, said that Egypt is a strategic ally to her country as both share ties of friendship. The importance of Egypt for the Spanish trade policy has grown immensely over time. Spain also supports local companies to invest in Egypt.
Her remarks came on the sidelines of her visit to Egypt on Tuesday to participate in the second edition of the Egypt-Spain Multilateral Partnership Forum, which was held in Cairo on 27-28 September 2022. This conference is considered the biggest Spanish event organized in Cairo since the visit of the Spanish Prime Minister to Cairo last December.
Bértolo added that there is still room for improvement in the Egyptian-Spanish trade relations.
The Spanish Minister, who accompanied the Spanish Prime Minister in his previous official visit to Cairo last December, led a Spanish business delegation in the current visit to Egypt and held several meetings with the Egyptian government to discuss boosting the bilateral ties.
Bértolo praised the measures taken by the Egyptian government to improve the legal and business environment and to protect the interests of foreign investors.
“We certainly welcome the interest of the Egyptian government to invest in agrotech, renewable energy, and urban development, and we look forward to cooperating with Cairo in the development of these sectors that would have potential positive impact on climate and economic development in Egypt,” she said.
“In this sense, I would like to seize the opportunity to congratulate Egyptian authorities for being selected to host COP27 in November,” Bértolo said. Spain is confident that this conference will be a landmark international success, she added.
Bértolo asserted that it is imperative to highlight the value of alliance, friendship, and dialogue among countries now more than ever, in order to successfully deal with the challenges that lie ahead.
Asked if she expects more cooperation between Egypt and Spain in the green hydrogen industry, she said that yes, as Spain seeks to cooperate with Egypt in several fields.
“We are looking for allies. We have important national projects that are going on and pilot projects of green hydrogen related to the fertilizers industry, chemicals, and so on. We are looking for international allies so other countries can join us to develop a pilot project for green hydrogen, as Spain wants to become a hub in the European Union for green hydrogen,” she explained.
Answering a question from DNE whether Spanish investors face any challenges in Egypt, she said that apart from the macroeconomic situation and the international uncertainty, which are maybe the most important issues that affect the decision making, there may be some challenges in regard with trade regulations.
