Moeit, two Bri­tish min­is­ters to dis­cuss de­vel­op­ing joint com­mer­cial re­la­tions

Over 40 com­pa­nies joined BEBA’s del­e­ga­tion to UK, says em­bassy

The Daily News Egypt - - Front Page - By Ha­gar Om­ran

UK’s Min­is­ter of State for the Mid­dle East at the For­eign and Com­mon­wealth Of­fice, Alis­tair Burt, and Min­is­ter of In­ter­na­tional Trade Baroness Fair­head will sit down with Egypt’s Fi­nance Min­is­ter Mo­hamed Moeit.

The meet­ing aims to ex­plore de­vel­op­ing the com­mer­cial re­la­tion­ship be­tween Bri­tain and Egypt, and how both gov­ern­ments can sup­port grow­ing pri­vate sec­tor ties, af­firmed a Wed­nes­day’s state­ment from the em­bassy.

A week of high-level busi­ness meet­ings look to take Bri­tain and Egypt’s trade re­la­tions to new heights, men­tioned the state­ment, ex­plain­ing that Bri­tish am­bas­sador to Egypt Sir Ge­of­frey Adams, UK Trade En­voy Sir Jef­frey Don­ald­son, and Egyp­tian am­bas­sador to the UK Tarek Adel wel­comed an Egyp­tian busi­ness del­e­ga­tion headed Moeit to Bri­tain.

Over 40 com­pa­nies joined the Bri­tish Egyp­tian Busi­ness As­so­ci­a­tion (BEBA) del­e­ga­tion to ex­plore bi­lat­eral in­vest­ment op­por­tu­ni­ties, and po­ten­tial part­ner­ships in sec­tors in­clud­ing health­care, ed­u­ca­tion, oil and gas, and fi­nance.

As well as meet­ing with gov­ern­ment and busi­ness lead­ers in Lon­don, the del­e­ga­tion is look­ing to strengthen ties with Bri­tain as a whole, vis­it­ing Manch­ester and Liver­pool to ex­plore op­por­tu­ni­ties for trade and in­vest­ment links, noted the state­ment.

The BEBA del­e­ga­tion visit to Bri­tain co­in­cides with a visit to Egypt from the Chief Ex­ec­u­tive of UK Ex­port Fi­nance (UKEF) Louis Tay­lor, who will be meet­ing with Min­is­ter of Pe­tro­leum Tarek El Molla and rep­re­sen­ta­tives from the min­istry of fi­nance, added the state­ment.

UKEF is the UK’s gov­ern­ment ex­port fi­nance agency, which works to pro­vide UK com­pa­nies with ac­cess to ex­port fi­nance in sup­port of their in­vest­ments abroad, men­tioned the state­ment.

Since Louis Tay­lor’s visit to Egypt in June this year, UKEF has been work­ing on the de­vel­op­ment of Tahrir Petro­chem­i­cals Com­plex along­side other ex­port credit agen­cies, com­mer­cial banks and Egyp­tian com­pany Car­bon Hold­ings, af­firmed the state­ment.

“This visit will ex­plore fur­ther op­por­tu­ni­ties for UKEF to sup­port fi­nanc­ing to boost UK-Egypt trade,” said the state­ment.

Bri­tish am­bas­sador to Egypt Sir Ge­of­frey Adams said that The UK and Egypt re­main com­mit­ted to de­vel­op­ing their part­ner­ship, which is al­ready worth £3bn a year, adding, “These se­ries of high-level en­gage­ments show how much will and po­ten­tial there is for in­creased co­op­er­a­tion.The trade ties be­tween our two coun­tries re­sult in mu­tual eco­nomic growth in strate­gic and job-cre­at­ing sec­tors, ben­e­fit­ing us all.”

Alis­tair Burt

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