Egypt, Austria to hold business forum in April, bilateral trade up by 23% | TradeMin



Thu, 20 Apr 2023 - 12:55 GMT


Thu, 20 Apr 2023 - 12:55 GMT

Ahmed Samir, Minister of Trade and Industry, held a with meeting the Austrian Ambassador to Cairo, Georg Stillfried, during which they reviewed ways of developing and developing joint economic cooperation relations in the commercial, industrial, and investment fields.

During the meeting Samir reflected on the large industrial and export potential of both countries, noting that the volume of trade exchange between the two countries increased 23% to reach $339.5 million last year compared to about $275.7 million in 2021.

The minister also announced that the meeting entailed preparations for a joint Egyptian-Austrian business forum to be held in Egypt at the end of this month, with the participation of a number of ministers, officials, investors, and representatives of the private sector in both Egypt and Austria.

Austrian investments in Egypt are across 173 projects in a wide range of sectors such as industry, services, tourism, construction, finance, agriculture, telecommunications, and information technology, according to the trade minister.

Ambassador Stillfried also expressed Austria's keenness to expand economic cooperation with Egypt and invest in the Egyptian market as part of its investment plans in Africa.



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