Business news

26 Nov 2020

Belarusian private sector to step up presence in free economic zones in Egypt

MINSK, 26 November (BelTA) – Ambassador Extraordinary and Plenipotentiary of Belarus to Egypt Sergei Terentyev met with Executive Director of the General Authority for Investment and Free Zones (GAFI) of Egypt Mohamed Abdel Wahab, BelTA has learned.

The sides discussed the current state and prospects of advancing investment cooperation, trade and economic cooperation between Belarus and Egypt. The ambassador highly appreciated the effective measures the Egyptian government and the General Authority for Investment and Free Zones take to maintain economic growth and Egypt’s investment appeal amid the pandemic.

Apart from that, prospects of increasing volumes of mutual investment, increasing the number of Belarusian companies operating in Egypt, expanding the presence of the Belarusian private sector in free zones in Egypt were discussed. The sides touched upon the implementation of joint industrial projects, in particular, the promotion and marketing of joint products in Africa.

The sides discussed the invigoration of contacts between the General Authority for Investment and Free Zones and the National Agency of Investment and Privatization of the Republic of Belarus in line with the memorandum of understanding the two agencies signed in May 2017.