Mashat lauds economic cooperation between Egypt, Austria

Minister of International Cooperation Rania Mashat lauded economic cooperation between Egypt and Austria, especially after inking a letter of intent between the two sides last April with an aim to enhancing bilateral cooperation in the economic, trade and technical domain.

This came during the minister’s participation as a key speaker at a conference of the Austrian Economic Chamber (WKO) in which thousands of private sector companies took part.
In a statement on Wednesday by the International Cooperation Ministry, Mashat said Egypt is the gate to Africa in light of its strategic location and the state is exerting great efforts to turn to a logistic and commercial hub in Africa and the Middle East.
The free trade agreements signed with Egypt offer great chance for reaching over 1.5 million customers in Africa, she said, commending the economic reform measures adopted by Egypt that enabled the economy to maintain its stable growth rate and show resilience in the face of many challenges, including the COVID-19 crisis and the Russian-Ukrainian conflict.
The government is proceeding with taking several measures to incentivize economic growth rate, encourage foreign direct investments and create sustainable jobs in several top priority sectors.
She called on Austrian companies to explore investment opportunities in Egypt, especially in implementing projects announced by the government, referring to the recent projects inaugurated by President Abdel Fattah El Sisi.



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