Egypt and Albania convene joint economic committee for first time since 1993

Egyptian Minister of Planning, Economic Development, and International Cooperation Rania Al-Mashat arrived in Tirana on Sunday to chair the Egyptian-Albanian Joint Committee for Economic, Scientific, and Technical Cooperation, meeting for the first time since 1993. The committee aims to explore cooperation avenues and strengthen bilateral relations, opening broader prospects for partnerships in trade, economic collaboration, and joint investments. The session includes a joint business forum with private-sector participants to discuss investment opportunities.

Egyptian Minister Rania Al-Mashat began chairing the joint committee in Tirana, stating that the meeting reflects both nations' commitment to consolidating relations following high-level visits, including former Albanian President Ilir Meta's trip to Egypt in February 2019 and Prime Minister Edi Rama's visit to Cairo in October 2021.

Over the past two days, Al-Mashat presided over expert-level preparatory meetings attended by representatives from the Ministries of Investment and Foreign Trade, Electricity and Renewable Energy, Higher Education and Scientific Research, Agriculture, Civil Aviation, Labour, Supply, and the Public Business Sector. Participants also included officials from the General Authority for Investment and Free Zones (GAFI), the Suez Canal Economic Zone Authority, the Arab Organisation for Industrialisation, and major companies in infrastructure, real estate development, and tourism.

The Ministry of Planning, Economic Development, and International Cooperation currently supervises 54 joint committees between Egypt and other countries, including 30 with European nations. The convening is expected to foster partnerships in areas of mutual interest, strengthening economic ties between the two countries.

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Egyptian President Abdel Fattah El-Sisi received his Turkish counterpart Recep Tayyip Erdogan in Cairo on Wednesday, where they co-chaired the second meeting of the High-Level Strategic Cooperation Council, signing a joint statement and several memoranda of understanding in defence, trade, investment, and other fields. The General Authority for Investment and Free Zones (GAFI) participated in the Egypt-Türkiye Business Forum to boost economic ties. The visit aims to elevate bilateral trade to $15 billion.

Egypt's economy grew over 5% in the first quarter of the current fiscal year, leading to coordination with the EU on future development grants. Planning Minister Rania Al-Mashat met EU Ambassador Angelina Eichhorst to discuss reforms and funding.

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Abdel Aziz El-Sherif, first undersecretary of Egypt's Ministry of Investment and Foreign Trade and head of the Egyptian Commercial Service, met with German commercial counselor Miguel Seco and Maren Diale, president of the Arab-German Chamber of Industry and Commerce, to review Egyptian-German economic ties and prepare for the seventh session of their joint economic committee. El-Sherif emphasized the strong bilateral relations and Germany's role as a key trade and investment partner. Bilateral trade reached about €5.5 billion in 2024, with cumulative German investments totaling €3 billion by February 2025.

Egypt's Minister of Planning, Economic Development and International Cooperation Rania al-Mashat stated that global protectionist policies are creating real opportunities for African countries to attract industrial investments by encouraging the reshoring of economic activities to the continent. She spoke at the launch of the Brookings Institution's "Foresight Africa" report during the World Economic Forum in Davos. Al-Mashat emphasized leveraging Africa's demographic dividend, youth population, and technological potential to advance industrialization.

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Egypt is seeking to scale up private sector investment and concessional financing for water desalination projects through coordination with international financial institutions, according to the Minister of Planning, Economic Development and International Cooperation. Minister Rania Al-Mashat held an expanded meeting with representatives from global bodies to mobilize technical assistance and funding for public-private partnerships. The discussions centered on the water pillar of the NWFE national platform to boost climate resilience.

Egyptian Prime Minister Mostafa Madbouly called for deeper economic integration between Cairo and Beirut through private sector involvement and infrastructure projects, noting bilateral trade surpassed $1bn in 2024. He also demanded an immediate Israeli withdrawal from all Lebanese territories, affirming Egypt's full support for the Lebanese government's efforts to extend state authority. This came during high-level talks in Beirut on Friday.

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Hassan El-Khatib, Egypt’s Minister of Investment and Foreign Trade, and Mahasen Ali Yaqoub, Sudan’s Minister of Industry and Trade, chaired meetings of the Joint Egyptian-Sudanese Trade and Industry Committee in Cairo on Monday. The two sides affirmed their commitment to strengthening economic ties, noting that trade exchange reached approximately $1.15 billion in 2024. They signed minutes outlining agreements in priority areas to boost economic integration.

 

 

 

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