SwissCham’s Regular Meetings Ignite Discussion on Elevating EU-Egypt Trade and Investment

The Swiss Chamber of Commerce in Egypt organized a panel discussion for various industry leaders to discuss trade and investment relations between the European Union and Egypt and to provide valuable insights into the current landscape and future expectations. The meeting was held online as part of the regular monthly meetings held by the Swiss Chamber of Commerce, in line with its commitment to supporting the economic climate and encouraging trade and investment relations between Egypt and the European Union.

The panel discussion was honored by the presence of Mr. Nicolaos Zaimis, Head of the Economic and Trade Affairs at the European Union Embassy in Egypt, and Mr. Amir Alfy, General Manager of Kuehne+Nagel, a global transportation, and logistics company, and it was chaired by Mr. Kamal Abdel Malik, Chairman of the Swiss Chamber of Commerce in Egypt.

Mr. Kamal Abdel Malik started his welcome address, stating, “It is our pleasure to meet today to discuss the importance of the economic and trade relations that Egypt shares with the European Union, and to focus on the activities of many European companies in Egypt across various sectors, and their aspiration to inject more investments into Egypt.”

“Abdel Malik” highlighted his appreciation for the solid partnership and robust ties between Egypt and the European Union, emphasizing the critical nature of this meeting. It’s designed to delve into trade dynamics between Egypt and the EU, explore avenues for bolstering these already flourishing trade connections, and find strategies for balancing trade interactions amidst the prevailing global scene. He further noted the significance of this gathering as one of the key opportunities facilitated by the Swiss Chamber of Commerce, offering its members and the broader business community a platform to engage in meaningful dialogue, share insights, foster collaboration, and draw in foreign investments.

On his part, Mr. Nicolaos Zaimis affirmed that the European Union is continuously working with Egypt to improve trade and investment relations in order to promote development and growth that achieves mutual benefit. In response, the state is making significant efforts to attract foreign investments and to overcome challenges facing foreign investors.

“Zaimis” continued his talk, providing a comprehensive and insightful overview of the scale of trade projects between the European Union and Egypt, the dynamics of trade, and analyzing import and export trends for the years 2022 and 2023. He also highlighted challenges, achievements, and considerations related to the foreign currency exchange dilemma, the International Monetary Fund program, and the state ownership policy document.

On the other hand, Mr. Amir Alfy, General Manager of “Kuehne+Nagel,” a global transportation and logistics company, shared the vital strategies adopted by Kuehne+Nagel in response to recent disruptions and developments in the Red Sea region, which is an essential passageway for global trade movement. He discussed the direct effects on the Suez Canal, which represents a vital artery for the Egyptian economy while focusing on alternative solutions.

It is worth mentioning that the Swiss Chamber of Commerce in Egypt is keen on creating an interactive forum that allows the exchange of ideas and cooperation between Egyptian and Swiss companies. Therefore, it launched this event as part of its unwavering commitment to support and stimulate trade and investment relations, bridge viewpoints between senior officials in the government and the private sector and development partners and provide an opportunity to present diverse opinions and gain knowledge about the executive leaders’ plans for the coming year. This is reflected in promoting economic development and creating a rich environment for the prosperity of Swiss and Egyptian businesses at the local level.