Abdel Aziz El-Sherif, First Undersecretary and Head of the Egyptian Commercial Service, held meetings in Madrid to strengthen economic, trade, and investment ties between Egypt and Spain. The discussions occurred during his visit to the 7th Trade and Investment Forum of the Union for the Mediterranean, aiming to advance their strategic partnership.
During Abdel Aziz El-Sherif's visit to Spain, he met senior officials at the Ministry of Economy, Trade and Business, including Juan Luis Jimeno, Head of International Trade and Economic Affairs and Egypt cooperation desk, and Javier Álvarez, Deputy Assistant Minister for Africa and the Middle East. Members of the Egyptian Commercial Office in Madrid also joined the discussions.
The talks centered on recent bilateral developments and ways to boost trade and investment cooperation under the strategic partnership framework. El-Sherif emphasized Spain's role as one of Egypt's main EU trading partners, highlighting renewed momentum in relations over recent months. He cited the Spanish King's September visit to Egypt and the accompanying Egyptian-Spanish Business Forum as a key milestone, following President Abdel Fattah El-Sisi's trip to Spain, which signals deepening ties.
Both sides discussed holding the first Economic Dialogue session under the Memorandum of Understanding signed during the presidential visit, along with the inaugural meeting of the reconstituted Egyptian-Spanish Business Council. They agreed to organize a combined event featuring the economic dialogue and a business forum in the first half of 2026.
El-Sherif noted strong trade progress in recent years, with Egyptian exports to Spain reaching about €1.68 billion in 2024, including €1.47 billion in non-oil goods, reflecting greater diversification and competitiveness. Egypt achieved a trade surplus of around €225 million with Spain that year. Major exports include iron and steel, mineral fuels and oils, fertilizers, plastics, and fruits and vegetables.
He pushed to elevate investment relations, pointing out that Spanish investments in Egypt stand at about €1 billion, below potential. El-Sherif invited Spanish firms to expand and start new projects in Egypt, highlighting attractive opportunities, competitive incentives, and Egypt's position as a regional production and export hub.
The visit ended with a meeting with Marta Blanco, President of CEOE International, the international branch of the Spanish Confederation of Business Organizations. Conversations focused on Spanish involvement in the planned dialogue and forum. Blanco voiced keen interest from Spanish companies in growing operations in Egypt, reaffirming Egypt's strategic importance as an economic and trade partner for Spain.
