ministers agreed to form the first joint Egyptian-Swedish business council and
organize a business forum.
Sep 24, 2021
Minister of Trade and Industry has received Swedish Minister
of Foreign Trade Anna Hallberg and her accompanying delegation, to discuss ways
to deepen joint cooperation between the two countries, mainly in the areas of trade,
industry and SMEs.
The talks focused on the ongoing coordination between Egypt
and Sweden to form the first joint business council and organize a business
forum, with the aim of enhancing industrial and commercial cooperation between
the business communities in both countries.
The two sides explored cooperation opportunities in the field
of wood industries, Sweden being a global leading producer of high-quality timber
and the second largest wood exporter to Egypt, renowned for its competitive furniture
They also discussed cooperation in developing small and micro
enterprises through providing financing and non-financing services by the
Swedish side as well as other international funding bodies.
According to official figures, Egypt-Sweden trade has not
been affected by the Covid-19 crisis, and grew remarkably by 25% in 2020 to
about $913.4 million, compared to $734 million a year earlier. Goods exchanged
between the two countries include: timber, machinery, equipment, vegetables and
Sweden ranks 40th among the largest investors in the local
market, with investments standing at $142 million until May 2020.