Egypt’s Minister of Investment and Foreign Trade Mohamed Farid met on Thursday with Mastercard Executive Vice President for Government Affairs and Policy Tucker Foote at the Egyptian Embassy to discuss co-operation in developing export services, promoting innovation and supporting entrepreneurship. The meeting is held on the sidelines of the B20 USA 2026 Business Summit in Washington, DC.
During the meeting, Minister Farid outlined Egypt’s plans to launch a TradeTech Sandbox, a regulatory framework designed to encourage companies to develop and test innovative technological solutions for the trade sector.
The initiative aims to leverage artificial intelligence to help Egyptian exporters access international markets, streamline shipping, facilitate trade financing and improve payment services, ultimately expanding Egypt’s exporter base and enhancing its global competitiveness.
The discussions also addressed opportunities to draw on Mastercard’s global expertise and programmes in supporting start-ups, developing cross-border digital payments and providing technical assistance to establish and strengthen the proposed TradeTech ecosystem.
For his part, Mastercard Executive Vice President for Government Affairs and Policy Tucker Foote expressed the company’s interest in participating in the initiative.
