Egypt, Philippines discuss ways to increase bilateral trade exchange

Bassant Mohammed
2 Min Read

Egypt’s Minister of Military Production Mohamed Ahmed Morsi met on Wednesday with Ambassador of the Philippines in Cairo, Ezz Al-Din Tajo, to discuss ways to increase the volume of investment and trade exchange between the two countries.

Morsi asserted that this meeting would play an important role in supporting the volume of trade exchange with the Philippines.

He also indicated that Egyptian-Philippine relations are witnessing remarkable development, stressing the keenness of his ministry to benefit from Philippine expertise in many aspects of industrialisation.

Furthermore, Morsi pointed out his ministry’s aspiration to cooperate with various international companies in the field of manufacturing, transfer, and resettlement of modern technologies in Egypt in order to support sustainable development strategies by relying on local manufacturing capabilities in Egypt.

He also stressed that Egypt is a promising market for the products of Philippine companies and that the infrastructure in Egypt encourages investment due to the great development efforts exerted in terms of the road network, transportation, ports, and energy, as well as the establishment of many industrial areas such as the Suez Canal Economic Zone.

On his part, Tajo stressed the need to intensify cooperation between the two countries through coordination between the embassy and various authorities in Egypt to increase the volume of trade and investment exchange, noting that this meeting will be an important step to support bilateral economic relations.

The ambassador also hailed Egypt’s pivotal role in the Arab region and the Middle East and its efforts in combating terrorism and expressed the aspiration of a number of Philippine companies operating in all fields of manufacturing to open new horizons for cooperation with Egyptian military production companies within the supportive climate in Egypt for investment.

Share This Article