Egypt offers access to US market

Invites Pakistani firms to set up manufacturing units, leverage its PTA with Washington

ISTANBUL:

ISTANBUL

Egyptian Minister of Investment and Foreign Trade Mohamed Farid Saleh told Federal Minister for Commerce Jam Kamal Khan that Pakistani investors could establish manufacturing operations in Egypt and use Cairo's preferential trade arrangements with the United States to access the American market, subject to applicable trade requirements.

Saleh encouraged Pakistani companies to explore manufacturing and industrial partnerships in Egypt and highlighted investment opportunities in the country.

He also requested details of Pakistani companies expected to participate in the upcoming business forum to facilitate direct engagement between the business communities and identify potential investment partnerships.

The Egyptian minister further highlighted educational opportunities for Pakistani students in Egypt, particularly in science, technology, medicine, healthcare and engineering, noting the availability of educational facilities at competitive costs.

The offer came during a series of bilateral meetings Khan held with counterparts from Saudi Arabia, Egypt and Tunisia on the sidelines of the 42nd session of the Standing Committee for Economic and Commercial Cooperation (COMCEC) in Istanbul, Türkiye, according to a statement issued on Thursday.

Khan emphasised the need to develop joint ventures between Pakistani and Egyptian private-sector companies and to explore opportunities in textiles, manufacturing and other mutually beneficial sectors.

He stressed that closer business-to-business engagement and stronger institutional linkages could help both countries expand their commercial partnerships and explore new international markets.

Talks with Egypt covered opportunities to enhance bilateral trade, investment and industrial cooperation between the two countries, particularly in the cotton and textile sectors.

In a separate meeting with Fareed S Alasaly, Deputy Governor for International Organisations and Agreements of Saudi Arabia, both sides agreed to further strengthen cooperation in agriculture and industrial development, particularly in human resource development, livestock and food security.

Khan emphasised the importance of identifying new avenues for mutually beneficial joint ventures between Pakistani and Saudi companies, and particularly proposed partnerships between leading businesses of the two countries to explore emerging trade opportunities in African markets. He also stressed the need for greater institutional and private-sector engagement to translate economic potential into practical business partnerships between the two countries.

He invited the Saudi representative to visit Pakistan during the upcoming FoodAg exhibition in Pakistan to explore opportunities in agriculture, livestock and food-related industries.

In a separate meeting with Tunisian Minister of Trade and Export Development Samir Abid, Khan discussed possibilities for enhancing bilateral trade and exploring new avenues of economic and industrial cooperation between the two countries.

Both ministers acknowledged that the existing volume of bilateral trade remains significantly below its true potential and emphasised the need for coordinated efforts to identify new opportunities and strengthen commercial linkages.

The discussions particularly focused on expanding cooperation in agriculture, minerals, textiles, auto parts and manufacturing, with both sides recognising considerable opportunities for mutually beneficial partnerships in these sectors.

Khan emphasised that Pakistan and Tunisia could benefit from each other's experience, technical expertise and industrial capabilities in specialised sectors, and highlighted the importance of sharing knowledge, adopting improved production practices and encouraging joint ventures to enhance productivity and competitiveness.

Both ministers agreed on the importance of closer institutional coordination and greater private-sector engagement to unlock untapped trade potential and translate identified opportunities into practical economic partnerships.

The meetings focused on strengthening bilateral economic relations, expanding trade and investment opportunities, promoting joint ventures and enhancing industrial cooperation in sectors of mutual interest.

Khan reiterated Pakistan's commitment to strengthening economic relations with friendly countries through enhanced trade, investment, industrial cooperation, knowledge sharing and greater private-sector participation.

The engagements reflected efforts to strengthen economic diplomacy, diversify export markets, attract investment and promote mutually beneficial economic partnerships with countries across the Middle East, North Africa and beyond.