Minister of Investment and Foreign Trade Hassan al-Khatib has discussed in a meeting with Czech Ambassador in Cairo Ivan Jukl ways of fostering economic and trade cooperation between Egypt and the Czech Republic.
During the meeting, Khatib highlighted the depth of relations, underlining the importance of increasing joint investments and establishing partnerships between the public and private sectors in both countries, according to a statement released by the Investment Ministry on Monday.
The minister said the Egyptian government gives priority to luring investments in advanced technology, with a view to achieving sustainable development and providing decent and productive jobs. Khatib added he plans to visit the Czech Republic soon along with an official delegation that comprises representatives of the Egyptian business community, to inform the Czech side about the recent reforms aimed at improving the business climate in Egypt.
The minister stated Egypt targets enhancing its trade competitiveness to become one of the top 50 global economies in the field of commerce, by reducing customs clearance time and costs and activating the World Trade Organization instruments to protect the national industry.
On his part, the Czech ambassador lauded the Egyptian State’s vision for boosting foreign trade and encouraging investments, expressing his country’s willingness to share experience with Egypt in bringing about economic and institutional transformation, reducing unemployment rates and supporting innovation and technology.
Jukl added Egypt enjoys competitive advantages, citing the tax policy that helps the country to be an attractive destination for non-labor-intensive investments, noting Czech companies seek to expand their presence in promising markets, such as Egypt.
The pair agreed on the significance of activating the joint business council and holding a forum bringing together business representatives from the public and private sectors in both countries to strengthen investment partnerships and expand bilateral cooperation.
