JOHANNESBURG – Egypt and the United Kingdom have announced an agreement to intensify their economic partnership.
In a joint statement after the UK-Africa Investment Summit attended by 16 African leaders in London earlier this week, Britains's secretary of state for international development Alok Sharma said his country was committed to deepening its bilateral cooperation with Egypt and growing the two nations' strong trading relationship.
"Our joint statement paves the way for us to intensify our economic partnership and support Egypt to develop a sustainable economy that can benefit future generations," Sharma.
Egypt's international cooperation minister Dr Rania Al Mashat said the the UK was a strategic partner for her country and she looked forward to strengthening the cooperation between the two countries.
"Together, we will work on the full implementation of the programmes in our joint statement, which are designed to achieve sustainable economic growth by delivering on Egypt’s 2030 vision consistent with the UN Sustainable Development Goals," Mashat said.
Data from the British Egyptian Business Association shows that in 2018 trade between the two countries amounted to about $1.3 billion.
During the same period, Britain invested $5.6 billion in the African country through 1,450 projects in the services, construction, tourism, finance, agriculture, telecommunications and information technology sectors.
UK secretary of state for international development. Egypt and the United Kingdom have announced an agreement to intensify their economic partnership. FILE In a joint statement after the UK-Africa Investment Summit attended by 16 African leaders in London earlier this week, Britains's secretary of state for international development Alok Sharma said his country was committed to deepening its bilateral cooperation with Egypt and growing the two nations' strong trading relationship. PHOTO: UK Parliament