- Czech Foreign Minister Yaakov Kulhanek has announced that the Czech Export Support Bank has allocated $300 million to boost two-way trade.
- The announcement came during the Egyptian-Czech Economic Forum organized by the General Federation of the Chamber of Commerce.
Czech Foreign Minister Yaakov Kulhanek has announced that the Czech Export Support Bank has allocated $300 million to boost two-way trade. According to reports, Egypt accounts for 75 percent of the current export volume of Czech products.
The announcement came during the Egyptian-Czech Economic Forum organized by the General Federation of the Chamber of Commerce. The Czech delegation was headed by Badr Abdel Atti, Assistant Minister of Foreign Affairs for European Affairs and President of the Federation of Czech Chambers of Commerce. The Czech minister observed that the Egyptian economy was able to achieve continuous positive growth despite the economic challenges generated by Corona and its consequences on the global economy. He pointed out that the huge projects under Egypt’s economic development strategy 2030 in the fields of energy, construction, recycling, optimal use of water and the development of the transport and road system, held immense promise for economic growth.
Speaking on the occasion, Minister of Foreign Affairs of Egypt Sameh Shoukry said that bilateral trade during the past year, although below the potential, offered opportunities to develop future joint economic relations. He urged companies from both sides to strengthen bilateral and tripartite cooperation to enter African and European markets together through co-manufacturing. Shoukry added that Egypt proposes to sign a cooperation agreement with the Suez Canal Economic Authority. Egypt also has signed free trade agreements that allow Egyptian products to enter European, African and American markets without customs duties.
