Egypt’s Minister of International Cooperation Rania Al-Mashat met with Ukraine’s Ambassador in Cairo Evhen Miketenko for discussions on forming a joint Egyptian-Ukrainian committee to deepen economic cooperation between the two countries.
The joint committee would be formed as part of the ministry’s role in strengthening Egypt’s economic cooperation relations with regional and international organisations and development partners.
Minister Al-Mashat said the meeting reviewed areas of such cooperation between Egypt and Ukraine. It also sought to strengthen the cooperation by prioritising sectors that are most essential for Egypt’s economy, such as investment, trade, tourism, oil, industry and scientific research.
The minister added that the two sides already have strong joint coordination and bilateral economic relations. She also said that both countries are reviewing the recommendations of the seventh Egyptian-Ukrainian Joint Committee session held in 2018. The session was considered an opportunity to explore new areas to explore new opportunities, and to put into effect the starting point for future cooperation between the two countries.
Minister Al-Mashat underscored the depth of these relations, and Egypt’s keenness to strengthen them and implement projects that support the country’s economy, whilst investing in its people to promote sustainable development.
The Ministry of International Cooperation is looking to strengthen economic diplomacy through three principles, which include regularly organising multi-stakeholder platforms. This will ensure that all projects between development partners are streamlined and effectively coordinated, adopting a consistent Global Partnerships Narrative.
Part of the ministry’s work focuses on People&Projects&Purpose (P&P&P), and mapping ODA financing for the UN’s sustainable development goals (SDGs), which Egypt is applying to all projects with multilateral and bilateral development partners.
Ukraine and Egypt have presented a successful model in cooperation through the launch of a number of mega national projects, the minister said.
She added that these projects, such as the development of the Suez Canal zone and the construction of the New Administrative Capital (NAC), will put Egypt on the map of emerging economic powers.
Other projects which will contribute to Egypt’s strength are the establishment of a national road network, the development of airports and sea ports, and the development of oil and natural gas fields.
For his part, Ambassador Miketenko affirmed his country’s keenness to strengthen cooperation with Egypt to contribute to deepening and promoting the partnership between the two countries in various fields.
During the seventh session of the Joint Committee for Economic Cooperation, the Odessa Port Authority in the Ukraine signed Memorandums of Understanding (MoUs) with Egypt’s Damietta Port Authority and the Alexandria Port Authority.
The committee looks to finding the necessary legal framework to advance bilateral cooperation relations between Egypt and Ukraine, as well as to facilitate trade exchange and strengthen relations between the private sectors of the two countries.
It will also create an appropriate environment for businessmen to contribute to development, increase inter-investment, as well as cooperation in areas of health, agriculture, and energy, to promote inclusive and sustainable development.