An Egyptian trade mission to explore the markets of Estonia and Latvia and promote investment

Economy and stock exchange

The seventh trade mission organized by the Egyptian Council for International Cooperation will start in the middle of June with the participation of a number of businessmen and investors in order to promote investment opportunities, discuss mutual investment in a number of sectors and discuss ways to boost bilateral trade..

Eng. Moataz Raslan, Chairman of the Egyptian-Canadian Business Council, said in a statement that the mission was organized in coordination with the Egyptian Foreign Ministry and the two Egyptian embassies in Estonia and Latvia, adding that it includes a number of heads of companies in the sectors of tourism, petrochemicals, information technology, And logistics.

He added that the mission is part of the strategy of the Council, which focuses on exploring investment opportunities in non-traditional markets and working to strengthen Egypt's trade and economic relations with these markets. He said that the mission will meet with a large number of ministers and senior officials of both countries and business organizations to introduce the developments in the investment climate, And to promote investment opportunities, especially in light of the huge projects implemented by the government as well as the marketing of Egyptian goods and products.

He pointed out that the selection of Estonia to be the next leg of the Council's missions was due to the existence of many opportunities for cooperation between the two countries in many fields, such as information technology and e-government applications. Estonia is one of the developed countries in this field, and signed a memorandum of understanding with the Ministry of Communications and Information Technology , So it is possible to invest this agreement in the promotion of cooperation in this area and discuss the opportunities available between the companies of the two countries.

He pointed out that Estonia is one of the important markets for Egyptian tourism and there are opportunities for its tourists to return to Egypt. The mission will also focus on promoting many investment opportunities in the Suez Canal Economic Zone and potential cooperation in the fields of energy production and extraction of rock oil,.

Ruslan pointed out that Latvia is also an important market for Egypt, and there are great opportunities to develop our trade and economic relations with it, especially in the light of efforts and mutual visits to push bilateral relations with them at all levels in the recent period. He pointed out that trade between the two countries is subject to the agreement of Egypt and the European Union. Means that there are no obstacles to trade exchange.

He added that the trade exchange between the two countries is still limited and does not amount to the distinguished relations and great opportunities in the Egyptian and Latvian markets. Statistics show that Latvia's exports to Egypt amounted to about 70 million euros in 2018, while Egypt's exports have about 3.5 million euros. Trade will be on the list of priorities of the mission, in addition to discussing the establishment of joint projects in a number of areas in Egypt.

He pointed out that the agenda of the mission includes visiting several factories in both countries to learn about their success stories and their potential in Egypt, discuss opportunities for joint cooperation and find markets for many distinguished Egyptian products and commodities..

– ltv