During the meeting, they deliberated on the establishment of cooperation mechanisms between the two countries to facilitate economic integration
CEO of The General Authority for Investment and Free Zones (GAFI) met with the Qatari Ambassador Tariq Ali Al Ansari in Cairo, to discuss developing a new strategy and work mechanism to increase economic and investment cooperation between both countries.
During the meeting, they deliberated on the establishment of cooperation mechanisms between the two countries to facilitate economic integration. These mechanisms could involve the implementation of projects in Egypt or the infusion of joint investments into the African market and other emerging markets.
This discussion gained particular significance following the activation of the African Free Trade Area Agreement and Egypt's inclusion in BRICS. These developments further amplify Egypt's trade and investment influence in Africa and emerging economies.
The CEO of the Authority stressed the continuous communication with Qatari companies investing in Egypt, to urge them to pump new investments and overcome any challenges they may face, in addition to communicating with major Qatari companies interested in investing in Egypt to present the investment opportunities available in areas of interest, especially in the real estate, entrepreneurship, logistics and distribution centers.
The Qatari ambassador praised the economic reforms and measures taken by Egypt, affirming the confidence of Qatari investors in the Egyptian economy.
Ambassador Al Ansari announced coordination with representatives of the Egyptian government to establish the Qatar - Egypt Investment Forum on a regular basis. Egypt hosted the forum in November 2023 and the forum witnessed the signing of a number of agreements and memorandums of understanding between Egyptian companies and their Qatari counterparts in the fields of real estate, food, and automotive industries.
Earlier last year, Head of the Egyptian Commercial Service, Yahya Al-Wathiq Billah said that Qatar is expected to invest almost $1.5 billion in the industrial sector in Egypt in 2024, during his interview with Asharq Bloomberg.
