Cairo: Minister of Planning, Economic Development, and International Cooperation Rania Al-Mashat took part in the ministerial opening session of the Egypt-GCC Trade and Investment Forum, focusing on 'Prospects for Trade and Investment Relations between the Arab Republic of Egypt and GCC Countries.'
According to State Information Service Egypt, the session aimed to explore the investment environment in both Egypt and GCC countries, emphasize recent developments and supportive legislation, and strengthen strategic partnerships between public and private sectors. The forum also addressed challenges to investment flows and outlined future investment cooperation aligned with the long-term visions of Egypt and the GCC countries.
The session was attended by high-profile figures, including Eng. Karim Badawi, Minister of Petroleum and Mineral Resources; Mr. Mohamed Gabr, Minister of Labor; and other prominent representatives from UAE, Saudi Arabia, Oman, and Qatar, under the chairmanship of Dr. Alaa Ezz, Secretary-General of the African and European Chambers of Commerce.
Al-Mashat expressed her pleasure in participating in the forum, highlighting the strong historical ties and mutual interests between Egypt and GCC nations. She emphasized that the Gulf investments are the largest in Egypt, with opportunities across various sectors supported by economic reform policies.
She noted the critical timing of the forum amidst rapid economic and geopolitical changes, stressing the need for deeper strategic partnerships to enhance economic integration and develop shared value chains. The minister highlighted the complementary strengths of Egypt and GCC countries, which enable sustainable partnerships in sectors like energy, real estate, and agriculture.
Al-Mashat pointed out that Egypt's recent economic reforms have empowered the private sector and redefined the state's role in economic activity, contributing to a recovering and growing economy despite regional and international challenges. She reviewed Egypt's positive economic indicators, including a GDP growth of approximately 5% in Q4 FY 2024/2025, compared to 2.4% in the previous year.
She confirmed the resilience of Egypt's economy in response to external shocks, attributing this to successful government policies that enhance macroeconomic stability and improve public investment governance. Key sectors like tourism, industry, and telecommunications/IT are identified as pillars for future growth.
Al-Mashat introduced 'Egypt's Narrative for Economic Development: Reforms for Growth, Jobs, and Resilience,' focusing on macroeconomic stability, structural transformation, and empowering the private sector. She also highlighted the 'Hafiz' platform as a digital bridge linking private sector institutions with development partners, offering comprehensive support services.
Concluding her remarks, Al-Mashat expressed confidence in the forum as a step towards strengthening Egypt-GCC partnerships, supporting an integrated Arab economy based on innovation and investment. She emphasized the role of joint committees in translating cooperative ideas into practical steps to enhance economic and investment collaboration.