Swiss business delegation to visit Egypt in November

CAIRO – 4 October 2017: A delegation of Swiss government officials and six companies, headed by Switzerland’s Minister of Economy, will visit Egypt next month to review investment opportunities, Minister of Industry Tarek Kabil said on Wednesday.

In a meeting with Swiss ambassador in Cairo Paul Garnier, Kabil said that the visit will aim to boost cooperation in trade and investment sectors.

The meeting tackled mutual cooperation, especially in the small- and medium-sized enterprises (SMEs) sector “to benefit from Switzerland’s expertise in this field,” Kabil said.

Bilateral trade between Egypt and Switzerland amounted to $1.36 billion in 2016, where Egyptian exports to the country soared by approximately 500 percent to stand at $477 million, compared to $80 million in 2015.

Switzerland is the 15th largest foreign investor in Egypt, with projects worth $2.7 billion, Kabil added.

During the upcoming visit, Kabil said he will review the measures taken as part of the economic reform program, upgrading infrastructure and doubling the foreign reserves.