Alamein:The Minister of Investment and Foreign Trade, Mohamed Farid Saleh, engaged in discussions with Haitham El-Maayergi, Vice President of the African Export-Import Bank (Afreximbank), and Ciro Aquino, Head of the Middle East and Africa Region at the Italian Export Credit Agency (SACE), to explore ways to enhance export financing and guarantee instruments. The discussions aimed to support the expansion of Egyptian companies into African markets.

According to State Information Service Egypt, the conversations occurred during the Alamein Africa GO63 Forum, with participation from senior officials of the General Authority for Investment and Free Zones (GAFI), the Sovereign Fund of Egypt, and the Export Development Authority.

Minister Saleh emphasized the necessity of developing financing and trade credit guarantee instruments to mitigate risks faced by Egyptian companies entering foreign markets. Such measures would facilitate project financing and bolster their ability to access African markets, tapping into available trade and investment opportunities.

The Minister also underscored the importance of understanding the needs and challenges of companies and connecting them with financial institutions to provide tailored financing solutions, thereby supporting their growth and international expansion.

Discussions with Afreximbank revolved around cooperation opportunities under the 'Egypt Goes for Export' initiative, which aims to link Egyptian companies with financing and trade opportunities across African markets.

Meanwhile, the meeting with SACE focused on utilizing export credit and financing instruments to aid the international expansion of Egyptian companies. Opportunities for collaboration in renewable energy and green transition projects were also highlighted.