President Sisi calls on Serbian businessmen to participate in Egyptian national projects – Foreign Affairs – Egypt

El-Sisi made the remarks while attending the Egyptian-Serb Businessmen’s Forum with his Serbian counterpart Aleksandar Vučić in the capital, Belgrade.

The President also underlined Egypt’s willingness to foster closer economic and trade cooperation with Serbian businessmen and companies in order to boost joint investments and help support the development process in Egypt, said President’s spokesman Bassam Rady in a statement.

El-Sisi asserted that this can be achieved through joint action to maximize mutual benefits and take advantage of existing opportunities in light of the many areas and promising investment opportunities in Egypt.

“These include tourism, pharmaceutical, communications, IT, infrastructure, real estate, administrative housing, but also agricultural products,” he added.

In addition, El-Sisi said that Egypt has achieved a significant leap in its development sectors, adding that over the past seven years, the country’s infrastructure has seen great development, citing the implementation of around 6,000 projects worth EGP 8 trillion.

He also referred to modern roads and rail projects across the country, noting that Egypt will build a 2,000 kilometer high-speed rail system in the next two to three years.

El-Sisi is making his first visit to the Republic of Serbia and the first by an Egyptian president since 1987.

The visit was marked by the launch of an integrated strategic partnership that defines a common vision for the different aspects of cooperation between Egypt and Serbia, as well as the means to take them forward.

He also witnessed, together with his Serbian counterpart, the signing of a series of agreements covering several areas, including higher education, agriculture, arts and culture, environmental protection, etc.

Trade between Egypt and Serbia amounted to around $79.7 million in 2021, of which $42.4 million came from Egyptian exports and $37.4 million from imports, according to the trade minister and Industry Nevine Gamea, who accompanied El-Sisi during his visit.

According to Gamea, the most important trade exchanges between the two countries include phosphates, vegetables, fruits, plastics, fertilizers, tobacco, machinery and electrical appliances.

In addition, she said that Serbia participates in projects in the Egyptian market with a capital of 47 million dollars in the sectors of industry, services, construction, tourism, communications, IT and agriculture.

Gamea made the remarks during a separate meeting with Serbian Trade, Tourism and Telecommunications Minister Tatjana Matić, during which they discussed ways to strengthen cooperation between the two countries to address the economic repercussions. current global challenges resulting from the Russian-Ukrainian war and the coronavirus pandemic.

The Egyptian minister said the two countries have “great opportunities” to strengthen cooperation in the areas of small and medium-sized business development, industrial training, establishment of logistics zones and tourism, according to a statement released. by the Egyptian Ministry of Commerce and Industry.

These areas of cooperation can also extend to the private sectors of the two countries, especially the automotive, agricultural, medical supplies, communications and IT sectors, she added.

The minister also called for increasing intra-regional trade rates and facilitating the movement of trade between the two countries in order to capitalize on all potentials and opportunities for investment and trade in the two nations and turn them into concrete cooperation projects.

In addition, free trade negotiations between the two nations should be completed by the end of October, the Serbian president stressed during a press conference with El-Sisi earlier on Wednesday.

Gamea then explained that the Serbian market can be a hub for the entry of Egyptian exports to the markets of Eastern and Southern European countries.

“There is a great opportunity to increase Egyptian exports to Serbia, especially petrochemicals, pharmaceuticals, salt, polyethylene, construction materials and engineering goods,” Gamea said in the report. communicated.

The Serbian minister, for her part, said that Belgrade wants to strengthen economic cooperation with Egypt, given that it is one of the most important countries in the Middle East and a commercial hub. important for African markets, the statement noted.

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