Mohamed Farid, Minister of Investment and Foreign Trade, met Qais bin Mohammed Al Yousef, Chairman of Oman’s Public Authority for Special Economic Zones and Free Zones (OPAZ), to discuss strengthening investment and trade cooperation and opportunities for integration between economic, special and free zones in the two countries.
The meeting was attended by Mohamed Awad, CEO of the General Authority for Investment and Free Zones (GAFI); Walid Anwar, GAFI Deputy CEO; Mohamed Ayad, Assistant Minister of Investment and Foreign Trade; and Abdullah bin Nasser Al Rahbi, Ambassador of Oman to Egypt.
Farid stressed the importance of taking Egyptian-Omani relations to a more integrated stage based on investment and industrial partnerships and leveraging the comparative advantages of both countries.
He noted that the two sides aim to strengthen cooperation in economic and free zones, jointly promote investment opportunities and open new markets for Egyptian companies.
The meeting discussed proposals that would enable Egyptian companies to use Oman’s free and economic zones to complete manufacturing processes and re-export products to Asian markets, while leveraging Egypt’s location and industrial and logistics capabilities to access other markets.
The Investment Minister stressed the importance of translating these proposals into a specific action plan covering target sectors and companies, as well as implementation mechanisms, thereby moving from exploring opportunities to establishing actual projects and partnerships.
The two sides also discussed opportunities for cooperation in pharmaceuticals, food industries, textiles, renewable energy, logistics and manufacturing, as well as marble and related industries.
The meeting also explored establishing a mechanism for jointly promoting investment opportunities in economic, special and free zones in both countries. The sides discussed organising a forum in Cairo to introduce the Egyptian business community to investment and expansion opportunities in Oman, particularly in sectors where Egyptian companies have production and export capabilities.
Farid said that the approach is aligned with the Ministry of Investment and Foreign Trade’s strategy to support the expansion of Egyptian companies into foreign markets, boost exports and connect companies with promising investment opportunities and markets.
For his part, Abdullah bin Nasser Al Rahbi stressed the importance of strengthening economic and investment relations between the two countries and enhancing coordination to open new opportunities for the business communities and increase mutual investment.
During the meeting, Qais bin Mohammed Al Yousef presented Oman’s experience in developing special economic and free zones, stressing the importance of integration between the two countries and leveraging Omani ports and economic and free zones as platforms for Egyptian companies seeking to expand into East African and Asian markets.
The two sides agreed to identify priority sectors, companies and opportunities and prepare an executive cooperation programme, while activating joint promotion mechanisms and organising events bringing together the business communities of both countries.
The efforts aim to increase mutual investment, boost trade and support the regional and international expansion of Egyptian and Omani companies.
