Ashraf AboArafe
28 March 2022, CAIRO – The Egyptian British Chamber of Commerce, in collaboration with the UK Department for International Trade (DIT), have organized a trade mission to Egypt with 31 delegates from 18 companies. The mission is taking place from the 27th to the 30th of March 2022 and is the outcome of the collective efforts of the Egyptian Embassy in the UK, and the British Embassy in Cairo.
As Egypt prepares to host COP27 in November 2022, the mission will focus on clean growth and sustainable projects in Egypt, and will aim to showcase opportunities for joint projects between British and Egyptian companies in key sectors such as infrastructure, energy and finance.
The mission is led by the Chairman of the Egyptian British Chamber of Commerce (EBCC), Ian Gray, with the support of Her Majesty’s Ambassador to Egypt, Gareth Bayley. The mission will kick-off with governmental meetings at the Egyptian Ministries of Transport, Housing, Utilities and Urban Development, Electricity and Renewable Energy and Finance. This will be followed by extensive private sector meetings aligned with the above sectors.
With Egypt’s leading regional role in investing and creating sustainable cities, delegates will visit Egypt’s New Administrative Capital (NAC) on the second day of the mission.
During the mission, the EBCC and DIT’s Infrastructure Committee meeting will take place, which will be attended by leading Egyptian companies operating in the infrastructure sector. The initiative will bring together private sector companies from the UK and Egypt, relevant government departments, and international financial institutions in support of increased bilateral collaboration in this sector.
Infrastructure is a vital driver of the economy, and has a significant and positive impact on economic growth. Egypt’s construction sector has grown significantly over the past 10 years, and is expected to grow further. This will be driven by direct investment in this field, whether in transport, water management, energy or construction.
Egypt has one of the most developed financial sectors in the region and is attractive to foreign investment with a strong consumer base and a solid infrastructure. With a growing economy and sustainable finance, Egypt managed to sustain a positive growth rate despite the pandemic, creating many investment opportunities.
The Egyptian energy sector has also been growing steadily over the past few years, and with preparations for COP27 well underway, opportunities for sustainable projects in Egypt are numerous and span wind, water, solar and more, creating great prospects for British businesses, whose renewable energy products, services and offer are amongst the most innovative and competitive in the world.
British Ambassador to Egypt, Gareth Bayley OBE, said:
“As part of our Green Partnership between the UK and Egypt, we are committed to working together with Egypt to ensure that COP27 builds on the legacy of COP26 and that Egypt realises its ambitious sustainable energy strategy and continues on its path to clean growth. The private sector will be essential to this success. We want to unleash the potential of green finance to engage and support British and Egyptian businesses, including sustainable infrastructure, renewable energy projects and green finance. The Road to Green Economy trade mission by the Egyptian-British Chamber of Commerce is an important step in building bridges between UK and Egypt that will strengthen our trade relationship and drive our mutual clean economic growth.”
Chairman of the Egyptian British Chamber of Commerce, Ian Gray OBE, said:
“After over 2 years of COVID-19 restrictions it is great for so many UK companies to have come with EBCC to Cairo looking for partners and opportunities in particular with the private sector. We have all been stopped from traveling and, now that we can, all these executives have put Egypt at the top of their list of countries to visit. I am looking for Egyptian companies to meet us and discover their opportunities! “
