Cairo: Minister of Foreign Affairs, International Cooperation and Egyptian Expatriates Badr Abdelatty deemed as an "important opportunity" the African Summit's adoption of a decision on Egypt's hosting of the Mid-Year Coordination Summit, and the organization of a business forum on its sidelines.
According to State Information Service Egypt, this will help enhance economic cooperation, open new horizons for communication between the business communities in Egypt and Kenya, encourage joint investment partnerships, and increase trade and investment exchange between the two countries. He also stressed the importance of strengthening industrial cooperation and trade exchange between them.
He made the remarks during a meeting with Kenyan Prime Cabinet Secretary and Cabinet Secretary for Foreign and Diaspora Affairs Musalia Mudavadi, Cabinet Secretary for Investments, Trade and Industry Lee Kinyanjui, and Cabinet Secretary for Water, Sanitation and Irrigation Eric Muriithi, in the presence of Egypt's Minister of Water Resources and Irrigation Hani Sewilam. The meeting addressed ways to enhance economic, trade and investment cooperation between the two brotherly countries, in addition to supporting cooperation in the field of water resources.
The foreign minister highlighted the opportunities offered by Egypt's industrial capacity to meet the needs of the Kenyan market in pharmaceuticals, industrial and chemical products, construction supplies and food industries, as well as the transfer of Egyptian expertise in agriculture and manufacturing. He also affirmed the Egyptian government's readiness to provide all forms of support and facilities to investors and to encourage effective partnerships between the business communities of Egypt and Kenya, contributing to sustainable development and strengthening economic partnership between the two countries, particularly in infrastructure.
He noted the establishment of the Egyptian export and investment guarantee agency to encourage Egyptian companies to expand their presence and increase investments in African markets by providing guarantees against potential risks. Both sides underscored the importance of cooperation and integration among Nile Basin countries to achieve mutual benefit.
They also agreed to enhance joint cooperation and coordination to help lay the foundations for peace and stability and achieve sustainable development in Africa, stressing the need to adopt a comprehensive approach that addresses security and development challenges through strengthened African joint action, support for national state institutions, and respect for the sovereignty, unity and territorial integrity of states, in line with the aspirations of African peoples for security, stability and prosperity.