Rédaction Africa Links 24 with MENA
Published on 2024-03-24 10:38:33
Egypt’s Foreign Minister Sameh Shoukry recently emphasized Egypt’s commitment to ensuring that Singaporean companies benefit from investment opportunities in Egypt, particularly through major projects like the Suez Canal corridor project. This project presents significant investment prospects in logistics, transit trade, and port management businesses, according to Shoukry, who made these remarks during a meeting with Singaporean counterpart Vivian Balakrishnan on Saturday, 23rd March 2024.
Both ministers acknowledged the substantial growth in bilateral relations between Egypt and Singapore in recent years and expressed a mutual desire to sustain this positive momentum. They explored the possibility of establishing a joint business council to facilitate collaboration between private sector entities from both countries.
Singapore’s Minister Balakrishnan indicated his country’s keen interest in expanding cooperation with Egypt across various sectors, including renewable energy, agriculture, and tourism. The two officials also engaged in discussions on a range of international and regional issues that are of shared concern, with a specific focus on the ongoing conflict in Gaza and its implications for maritime security in the Southern Red Sea region.
Egypt’s strategic location at the crossroads of Africa, Asia, and Europe makes it an attractive destination for foreign investments, particularly in vital sectors like transportation and logistics. The Suez Canal corridor project, which aims to further develop this critical waterway and the surrounding region, presents lucrative opportunities for foreign businesses interested in expanding their presence in Egypt.
The proposed establishment of a joint business council between Egypt and Singapore underscores the commitment of both countries to fostering stronger economic ties and promoting mutual growth. By facilitating collaboration between private sector stakeholders, such a council could serve as a valuable platform for sharing expertise, exploring new business opportunities, and driving innovation in key industries.
Singapore’s interest in collaborating with Egypt in the fields of renewable energy, agriculture, and tourism reflects the diverse range of opportunities for partnership between the two countries. Egypt’s rich natural resources, growing renewable energy sector, and thriving tourism industry present attractive prospects for Singaporean companies seeking to diversify their investments and expand their global footprint.
In light of the complex security challenges facing the region, the ministers also addressed the issue of maritime security in the Southern Red Sea, particularly in the context of the ongoing conflict in Gaza. Enhancing cooperation in this area is crucial for ensuring the stability and security of vital maritime trade routes that pass through the region.
Overall, the meeting between Foreign Minister Sameh Shoukry and his Singaporean counterpart Vivian Balakrishnan highlighted the shared commitment of Egypt and Singapore to deepening their bilateral relations, expanding cooperation across key sectors, and addressing mutual concerns in the international and regional arena. Through strategic partnerships and collaborative initiatives, both countries aim to leverage their respective strengths and resources for mutual benefit and sustainable growth.
Read Original article on Egypt Independent
