Egypt's Minister of Trade and Industry Tarek Kabil Cairo, Egypt, February 2, 2016. (Reuters)
A UK trade envoy arrived in Cairo on Sunday ahead of meetings with several officials where they will discuss investment opportunities in Egypt during a week-long visit that is aimed at bolstering Egyptian-British economic ties.
Northern Irish MP Jeffrey Donaldson, the UK trade envoy to Egypt, will meet with Prime Minister Sherif Ismail and Minister of Trade Tarek Kabil, a statement by the UK Embassy in Egypt said.
The envoy is also set to meet businessmen Naguib Sawiris and Ahmed el-Sewedy, as well as Ahmed Darwish, the chairman of the Suez Canal Economic Zone.
The envoy's visit is set to focus on discussions related to several opportunities in energy, infrastructure, and education during events that will take place in Cairo, Alexandria, Idku, Port Said, and Ismailia.
“Egypt is a land of real opportunity for British companies. I am excited to spearhead the UK’s efforts to deepen our business partnership with Egypt and encourage bold economic reforms," Donaldson said.
"This will not only bring great economic benefit to the UK but will also be vital in helping Egypt build a strong, dynamic economy that creates jobs and opportunities for the Egyptian people."
According to the UK embassy, the UK is the number one investor in Egypt, with British companies investing 5.4 billion USD in the 2014-15 fiscal year.
The UK's investments account for over 40% of total foreign direct investment inflows, bringing overall investments to more than 25 billion USD in the past five years.
“That’s in all of our interests because a strong, dynamic Egyptian economy is the best foundation for the wide-ranging and long-term change that Egypt needs to succeed - developing effective and accountable institutions, protecting individual rights, and countering extremism,” British Ambassador John Casson said.
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