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Trade and Industry: Preparation for the formation of the first Egyptian-Swedish business council and the promotion of industrial and commercial cooperation

Nevin Gamea, Minister of Trade and Industry, confirmed that coordination is currently underway to organize a joint Egyptian-Swedish business forum to enhance industrial and commercial cooperation between the business communities in the two countries, pointing to the importance of the pivotal role of business circles in Egypt and Sweden in activating strategic partnership frameworks and enhancing trade and investment cooperation between the two countries during the next stage. .


This came during the expanded session of talks held by the Minister of Trade and Industry with Anna Helberg, the Swedish Minister of Trade and her accompanying delegation, which dealt with discussing ways to enhance joint cooperation between the two countries in all fields, especially investment and trade cooperation and the development of small projects. In Cairo, Minister of Trade Plenipotentiary Nasser Hamed, Director of the European Union Department at the Commercial Representation Authority, and Hatem El-Ashry, Advisor to the Minister for Institutional Communication.


The minister said, in a press statement, today, Friday, that the talks dealt with preparing for the formation of the first joint Egyptian-Swedish business council to represent a basic pillar for cooperation between the two countries in the commercial, investment and industrial fields, pointing to the keenness of the two sides to enhance joint cooperation in the field of developing small and micro enterprises. Through the Medium, Small and Micro Enterprise Development Agency and its Swedish counterpart, with the aim of providing financing and non-financing mechanisms from the Swedish side to the Egyptian side through international financing bodies, in a number of sectors of common interest.


Jameh explained that the meeting also reviewed the possibility of cooperation between Egypt and Sweden during the participation in the activities of the Expo 2020 in Dubai, which is scheduled to open in the next few days, by organizing joint activities between the two sides and holding business meetings between investors in the two countries, especially since the Egyptian pavilion in the exhibition will include events and workshops. Business and business meetings.


The Minister invited her Swedish counterpart to visit the Egyptian pavilion during the exhibition's activities, to take an intense look at Egypt through all ages, passing through the ancient Egyptian civilization, and reaching Egypt's vision for the development of the present and foreseeing the future, through the pavilion's distinctive designs and content, which reflects the Egyptian identity.


Jameh pointed out that trade relations between Egypt and Sweden were not affected by the Corona virus crisis, but witnessed a remarkable increase, as the volume of trade exchange between the two countries during the year 2020 amounted to about 913.4 million dollars, compared to 734 million dollars in 2019, an increase of about 25%, as wood and machinery represent Equipment, vegetables and fruits are the most prominent commodities exchanged between the two countries, pointing out that Sweden ranks 40th in the list of the largest countries investing in Egypt, as Swedish investments in Egypt until the end of May 2020 amounted to about 142 million dollars.


The minister indicated that the two sides discussed ways to deepen cooperation between Egypt and Sweden in the field of wood to meet the needs of the Egyptian industry, as Sweden is considered one of the leading countries in the field of high-quality wood production and the second largest exporter of wood to Egypt, in addition to establishing joint cooperation in the field of wood industries in Egypt with the participation of The Swedish side in view of Sweden’s great experience in this field, noting that the furniture industry is one of the most promising national industries in which Egypt possesses great competitive advantages that qualify it to meet local needs and compete in foreign markets in light of the presence of an Egyptian city specialized in this field, which is the city of Damietta. For furniture, which is one of the distinguished industrial castles, whose products enjoy great popularity and acceptance in various foreign markets.


For her part, Anna Helberg, Swedish Minister of Trade and Industry, affirmed the Swedish government's keenness to strengthen economic, investment and trade relations with Egypt as one of the most important partners in the Middle East and Africa, expressing the Swedish government's appreciation for the comprehensive development plans and mega projects that Egypt is currently implementing, which contribute significantly to A breakthrough in the Egyptian economy.


Helberg explained that the Swedish government seeks to achieve rapprochement between the Egyptian and Swedish business circles through the establishment of the Egyptian-Swedish Joint Business Council and the holding of a business forum between the two countries during the next stage, praising what it has seen in empowering Egyptian women at the government level and representing women in political and leadership positions. This reflects the level of openness that Egypt is currently witnessing at the level of political leadership and government.