New capital: The first coordination meeting was held at the headquarters of the Egyptian Commercial Service (ECS) in the New Capital to begin studying the draft agreement proposed by the Qatari side to conclude a comprehensive economic partnership between Egypt and Qatar. The meeting was chaired by Dr. Abdel Aziz El-Sherif, First Undersecretary of the Ministry of Trade and Head of the ECS. Participants included Commercial Minister Plenipotentiary Tamer Mustafa, Director of the Department of Arab States and Arab and Islamic Organizations Affairs, Commercial Counselor Hossam Najm, Head of the Egyptian Commercial Office in Doha, via video conference, and Ambassador Mohamed Hegazi, Deputy Assistant Minister of Foreign Affairs for the Gulf Cooperation Council and Yemen Affairs. The meeting was also attended by representatives of the relevant Egyptian national authorities.
According to State Information Service Egypt, Dr. Abdul Aziz Al-Sharif stated that the new Qatari investments in Egypt come in addition to the existing Qatari investments in the Egyptian market, which amounted to approximately US$5.4 billion as of February 27. These investments are distributed across the industrial, service, financial, tourism, construction, agricultural, communications, and information technology sectors, in addition to the investments of Qatari Diar Company to develop the Alam El Roum project on the North Coast, with investments amounting to $29.7 billion.
The agreement aims to strengthen cooperation in research and development and technology transfer, supporting the modernization of Egyptian industrial sectors and increasing their competitiveness. Notably, Egypt has maintained a trade surplus with Qatar over the past two years, reaching approximately US$59 million in 2024. His Excellency affirmed that these investments are likely to increase in the coming period, especially given the investment opportunities available in tourism and hotels.
The agreement also includes the establishment of factories for the production of sustainable fuels and agricultural products. Future expectations include an increased trade volume between the two countries following the signing of the agreement, with the trade volume reaching approximately US$129 million by 2024. This meeting underscores the commitment of both Egyptian and Qatari sides to deepen economic partnership and explore new cooperation opportunities to achieve their mutual interests.