The cabinet approved during its meeting on Wednesday under Moustafa Madbouli a proposal for a partnership agreement between the Public Treasury Authority, the Egyptian Mint Authority and the UK’s Royal Mint.
The agreement is meant to establish an Egyptian-UK mint authority in the Suez Canal Economic Zone (SCZONE) in addition to issuing and minting a coin of LE2 value.
The agreement falls within the framework of the ongoing efforts to strengthen metal industries in Egypt and help the country to become a regional hub for producing and minting currencies for Arab, African, and Middle East countries.
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