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Egypt, Belarus trade ministers open 1st joint council, 5th business forum
20 February 2020  -  Organization :  -  Sector/Entity :  -  Category : General

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Egypt-Belarus trade grew over the last three years to around $130 million from January to November 2019.

Cairo- Feb 20, 2020

Minister of Trade and Industry Nevine Gamea and Vladimir Koltovich, the Belarus’s antimonopoly regulation and trade minister, chaired today the first meeting of the joint Egyptian-Belarusian business council and the fifth business forum, held in the New Administrative Capital, with the participation of a host of businessmen from both countries.

The meeting explored means of expanding trade and investment between Egypt and Belarus, given that bilateral trade grew over the last three years to around $130 million from January to November 2019.

 “Belarus is one of Egypt’s top partners in the Eurasian Union,” Gamea stressed, noting that a large number of joint projects have been established lately; mainly in the assembly and manufacture of trucks, tractors, engines and loaders.

She added that the east European country could well benefit from Egypt’s location and wide range of agreements to access the African market and others across the globe.

The minister further pointed out that there is ample opportunity for Belarusian companies to invest in the country’s megaprojects, such as the Suez Canal Economic Zone, new cities, railway and land reclamation.

Koltovich, for his part, highlighted his country’s keenness to boost its economic ties with Egypt, noting that Belarus is willing to support Egyptian industry through technology transfer and joint industrial ventures.

The two ministers also opened the fifth business forum, where 12 memoranda of understanding (MoUs) were signed between various Egyptian companies and government entities, and their Belarusian counterparts.


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