Egypt’s Minister of Trade and Industry Ahmed Samir said Egypt and Kuwait are tied by longstanding strategic economic relations in the various fronts, praising the important role played by the business communities in both countries in the service of the two states’ interests.
The minister delivered an address on behalf of Prime Minister Mostafa Madbouli during the inauguration of the Egyptian-Kuwaiti Business Forum.
Finance Minister Mohamed Maait, Madbouli’s Adviser for Economic Affairs Gihan Saleh as well as a large number of Egyptian and Kuwaiti businessmen are attending the forum.
Samir conveyed the greetings of President Abdel Fattah El Sisi, the Egyptian government and people to the Kuwait side, highlighting the permanent dialogue and contacts between Sisi and Kuwaiti Emir Sheikh Nawaf Al Ahmed Al Jabir Al Sabah.
He also said the forum convenes in conjunction with the anniversary of Prophet Muhammed’s birth along with Egypt and the Arab nations’ celebrations of October war victory and the Kuwaiti parliament elections.
The minister said the Egyptian-Kuwaiti relations are based on several pillars comprising joint cooperation for making peace, solidarity in solving issues of the Arab region, as well as integration among the two countries in order to seize the available investment opportunities placed on Egypt’s agenda for building a new republic.
He also underlined that mechanisms for future action between the two countries should guarantee propelling investments and achieving more profits from the two countries’ potentials especially in light of the two political leaderships’ keenness on expanding involvement of the private sector in the national economy.
As regards trade relations between Egypt and Kuwait, Samir said the volume of trade exchange witnessed a notable growth over the past few years as it hit dlrs 305 million in 2021, up from dlrs 252 million in 2020, recording a 21 percent rise.
Trade volume in the first seven months of this year reached dlrs 242 million, Samir explained, adding that such volume was not up to the strength of the historic relations binding the two countries.
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