Egypt has proposed creating a joint business council with the Philippines to enhance trade in agriculture, pharmaceuticals, infrastructure, and energy, Foreign Minister Badr Abdelatty said on Wednesday.
In a telephone call with his Philippine counterpart, Maria Theresa Lazaro, Abdelatty suggested the council should include private sector representatives to facilitate communication between the two business communities and drive bilateral trade forward, according to a statement from the Egyptian Ministry of Foreign Affairs.
Abdelatty highlighted the investment opportunities available within the Egyptian economy and affirmed the government’s commitment to attracting foreign capital and strengthening economic partnerships with Asian nations. He noted recent developments in bilateral relations and expressed a desire to upgrade cooperation frameworks in the economic, commercial, investment, and cultural sectors.
The Egyptian minister also congratulated Lazaro on the Philippines assuming the chairmanship of the Association of Southeast Asian Nations (ASEAN) at the start of this year. Abdelatty emphasised Egypt’s interest in elevating its relationship with the ASEAN bloc, citing the Treaty of Amity and Cooperation signed by Cairo in September 2016.
The two ministers further exchanged views on regional and international developments in the Middle East and Southeast Asia. They affirmed their commitment to continued consultation and joint coordination to support regional and international security and stability, the ministry stated.
