Egypt is one of the key political and economic partners of Belarus in the Middle East and in Africa. The Prime Minister of the Republic of Belarus Roman Golovchenko made the statement as he met with the Prime Minister of the Arab Republic of Egypt Mostafa Madbouly being on an official visit to this country in late April.
At the meeting, the prospects of expanding partnership between the two states were discussed, as well as increasing the trade turnover, which amounted to about 100 million US dollars last year but, according to both sides, falls far short of its potential. Among the promising areas of cooperation outlined were industrial production, including the development of cooperative projects for the joint manufacture of passenger, freight, agricultural and municipal equipment, increasing food supplies to Egypt, collaboration in the fields of pharmaceuticals, science, education, and other spheres.
"We need to find new growth points, new market niches, new mechanisms of interaction, and actively implement joint projects," the Belarusian Prime Minister stated.
To lay the foundation for future cooperation, a large business delegation representing the main sectors of the Belarusian economy arrived in Egypt on the eve of the official visit of the government delegation, motivated for results and joint projects. The delegation included senior executives and experts from nearly 30 leading enterprises and organizations. The Belarusian Chamber of Commerce and Industry and the Federation of Egyptian Chambers of Commerce organized a busy business program
for them.
Egypt is known as one of the most favorite tourist destinations. However, for the representatives of Belarusian businesses, despite the hot weather and the proximity to the Red Sea, there was no time for leisure. Over two days, they were actively discussing opportunities to strengthen and develop partnerships with Egyptian companies during B2B negotiations and at the production facilities of enterprises.
In particular, a business matchmaking session took place on April 29 in Cairo, where leaders and experts from 22 Belarusian companies and over 40 representatives of Egyptian business circles discussed future partnership relations in industrial production, food, light, pulp and paper industries, medical services, and other areas.
The Belarus-Egypt Business Forum, which took place on April 30 in the New Administrative Capital of Egypt, was the main and concluding event of the business program for Belarusian business circles.
Moderating the forum were the Chairman of the BelCCI Mikhael Miatlikov and the Chairman of the Federation of Egyptian Chambers of Commerce Ahmed El Wakil.
Welcoming the participants, the Chairman of the BelCCI thanked the host party for their hospitality and emphasized the constructive and friendly nature of interaction with Egypt through Chambers of Commerce and Industry, as well as the effectiveness of jointly held events. Speaking about this year's forum, he expressed hope that it would serve as a guarantee for further strengthening mutually beneficial ties, unlocking partnership potential, and that the agreements reached would be transformed into specific contracts.
"There is good potential for intensifying cooperation in such areas as the supply of food products, chemical and metal products, light industry, medical tourism and the production of medicines. Enterprises from these industries are in this room today and expect to find partners in Egypt and establish long-term business relations. Belarusian business has real interest and specific proposals for developing cooperation and implementing joint projects," Mikhael Miatlikov said.
In addition, he noted the importance of exhibition events for the development of bilateral relations, voiced the plans for the participation of Belarusian companies in the international exhibition project Food Africa in Egypt and invited Egyptian business to visit the Belarusian pavilion as well as actively participate in exhibitions and business events in Belarus.
"We invite our Egyptian friends to visit the Republic of Belarus in the near future. During the visit, you will be able to get acquainted with the achievements of our country in industry, agriculture, the production of quality food products and pharmaceuticals. The Belarusian Chamber of Commerce and Industry will do everything possible to provide Egyptian and Belarusian companies with the necessary support and assistance," the head of the BelCCI assured.
The leaders of the two states' governments, Roman Golovchenko and Mostafa Madbouly, were the forum distinguished guests.
Roman Golovchenko in his speech mentioned that Belarus traditionally supplies metal products, trucks, tractors, agricultural and construction machinery, chemical products, paper, cellulose, and other goods to Egypt. "I am confident that not all importers in Egypt are aware of the opportunities that Belarusian suppliers have, and vice versa. This is why such business forums are held. From Egypt, we export fruits, vegetables, pharmaceuticals, perfumes, certain types of fabrics, and so on. These trade flows could be even more balanced provided that we find mutually acceptable forms of settlement and overcome some difficulties," he noted.
The Prime Minister is certain that the mutual interests of Belarus and Egypt are not limited to the existing range of supplies. "The potential for mutual trade is much broader," Roman Golovchenko believes. "Egypt is making significant efforts to liberalize state regulation in the country, improve the investment climate, attract as many investors as possible to this rapidly growing market, which also serves as a gateway to Africa. We fully support this approach and will be happy to take advantage of the opportunities that Egypt offers. We need to identify several levels of projects: large-scale ones related to industrial cooperation, the development of industrial goods production, and smaller ones – simple export-import transactions that are not less necessary and deserve their place in our trade turnover."
In turn, the Prime Minister of Egypt Mostafa Madbouly stated that Egypt is a member of various interregional agreements, and the Belarusian side can take advantage of these agreements. "By joining efforts, we can significantly influence the growth of bilateral cooperation," he emphasized.
"We hope for the expansion of cooperation and regular visits between our delegations. The close relations between Belarus and Egypt cover all areas: industry, trade, tourism. The Belarusian side has great potential in heavy industry – your tractors are present in all our villages. All this contributes to cooperation. Egypt also has great potential that needs to be utilized. There is no doubt that Belarusian enterprises and factories are ready to cooperate and become a locomotive for the Belarus-Egypt partnership," Mostafa Madbouly noted.
The Prime Minister of Egypt also highlighted the fruitful cooperation in the tourism sector and expressed hope for its further prosperity. "Tourist turnover and investment exchange should be a stimulus for increasing trade turnover between our countries," he remarked.
The forum also saw welcoming addresses by the Minister of Trade and Industry of Egypt Ahmed Samir and the Minister of Antimonopoly Regulation and Trade of Belarus Alexei Bogdanov.
Belarus was represented at the forum by the official and business delegation members. From the Egyptian side, more than 100 business community representatives took part in the event. The participants reviewed the current state and prospects of the Belarus-Egypt trade and economic relations, opportunities for implementing joint projects, key directions and areas for the development of bilateral contacts. Investment and export opportunities of the two countries were presented.
Following the speeches and presentations, a ceremony was held to sign bilateral documents and contracts for the supply of Belarusian mechanical engineering, chemical, pulp and paper, light industry products, an agreement between investment agencies of the two countries, after which business representatives continued to work in the format of personal meetings and fruitful negotiations.
Strategic agreements aimed at developing bilateral relations and promoting trade, contracts worth approximately 12 million US dollars – these are the evident results of the visit to Egypt by official and business delegations from Belarus. In addition, important personal business contacts were established, which will yield results in the form of new documents and specific projects in the near future.
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