Yemisi Izuora
Egypts Minister of Industry Khaled Hashem held a series of high-level meetings with international officials and financial institutions on the sidelines of the 35th Annual Meeting and Business Forum of the European Bank for Reconstruction and Development (EBRD) in Riga, Latvia, to explore opportunities for expanding industrial, investment, and trade cooperation.
During a meeting with the Board of Directors of the European Bank for Reconstruction and Development (EBRD), Hashem discussed ways to strengthen collaboration in key sectors, including energy, water, vocational training, and support for small and medium-sized enterprises (SMEs).
Hashem, specifically held talks with Aminu Umar-Sadiq, Managing Director and Chief Executive Officer of the Nigeria Sovereign Investment Authority (NSIA), on opportunities to deepen investment cooperation between Egypt and Nigeria.
The minister stressed the importance of leveraging the strong relationship between the two countries to advance industrial integration through joint projects that serve shared economic interests.
He noted that Nigeria could benefit from Egypt’s manufacturing capabilities and strategic access to Arab and African markets.
Hashem also highlighted the potential for establishing a trade corridor between Egypt and Nigeria under the framework of the African Continental Free Trade Area (AfCFTA), which could facilitate the movement of goods and strengthen intra-African trade.
The discussions further addressed mechanisms to enhance cooperation between chambers of commerce, business associations, and financial institutions to facilitate trade financing and reduce commercial risks.
As part of his bilateral engagements, the minister met with Osman Çelik, Deputy Minister of Treasury and Finance of Türkiye, to discuss increasing Turkish investments in Egypt, particularly export-oriented projects, while enhancing bilateral trade and promoting joint manufacturing initiatives, Daily News Egypt reports.
The discussions focused on identifying priority sectors and products that could integrate Egyptian and Turkish production inputs to create more competitive exports. Areas highlighted included textiles and garments, engineering industries, automotive components, household appliances, chemicals, fertilizers, and renewable energy equipment.
In a separate meeting, Hashem met with Mohamed Tarek Bchir, Director of Treasury and External Financing at Morocco’s Ministry of Economy and Finance, to explore avenues for expanding industrial cooperation and developing financing mechanisms that support bilateral investment flows.
The talks reviewed several sectors with strong potential for strategic partnerships, including automotive manufacturing and components, food processing industries, and textiles. The two sides also discussed activating existing trade agreements to facilitate bilateral trade and improve access to African and international markets.
Hashem reaffirmed Egypt’s commitment to elevating relations with Morocco to a comprehensive strategic partnership, reflecting the shared ambition of both countries to deepen economic, industrial, and investment cooperation and enhance regional integration.