El-Khatib highlighted that Egypt’s foreign direct investment reached its highest value during FY2023/2024, totaling $46.1 billion, with a focus on non-oil sectors.
The European Union (EU) is Egypt’s first trading partner, as the volume of trade exchange with the Union during 2023 reached about €32.6 billion, representing about 27% of Egypt’s foreign trade.
Minister of Investment and Foreign Trade, Hassan El-Khatib, said that during his visit to Capital of Belgium, Brussels, in a meeting with European Commission Executive Vice-President, Valdis Dombrovskis.
El-Khatib highlighted that Egypt’s foreign direct investment reached its highest value during FY2023/2024, totaling $46.1 billion, with a focus on non-oil sectors.
He stressed the importance of European investments in Egypt, which represent around 32% of the country’s total foreign direct investments.
The minister referred to the Memorandum of Understanding signed between President AbdelFattah El-Sisi and the President of the European Commission. This agreement has elevated the bilateral relations between Egypt and the European Union to a strategic level, with the EU offering a financial and investment support package to Egypt.
The minister underscored the significance of Egypt’s iron and steel sector as a cornerstone of the country’s industrial exports to the EU and other global markets.
He pointed out that a wide range of global and foreign companies, including many European firms, operate in the Egyptian market. These companies view Egypt as an attractive investment destination and an industrial and export hub, offering access to African, Middle Eastern, and European markets.
