Egyptian Prime Minister Mostafa Madbouly and his Croatian counterpart, Andrej Plenković during a joint press conference. Photo courtesy of Egyptian cabinet Facebook page.
Speaking at a joint press conference in Egypt's New Administrative Capital (NAC) following discussions between their respective delegations, the two top diplomats addressed various mutual interests, including economic cooperation, trade expansion, and investment opportunities.
During his speech, PM Madbouly highlighted the strengthening economic ties between Egypt and Croatia, particularly in the energy sector.
Egypt’s Petrojet is collaborating with Croatian and Greek firms to construct offshore platforms in the Adriatic Sea, while Croatia’s INA is involved in several oil and gas concessions in Egypt, Madbouly said.
Infrastructure development and construction were key topics during Croatian Prime Minister Plenković’s third visit to Egypt.
Madbouly emphasized Egypt’s extensive experience in large-scale projects extending beyond national borders and explored opportunities to enhance collaboration with Croatia, particularly by leveraging the expertise of Egyptian construction companies.
Strategic partnership
For his part, Plenković reiterated Croatia’s ongoing support for Egypt’s strategic partnership with the EU and highlighted his country’s commitment to fostering business partnerships with Cairo.
"We are here in Egypt to build partnerships across various business sectors. Egypt is a large market, and that is our primary objective for this visit," the Croatian prime minister said during the press conference.
Plenković emphasized Croatia’s interest in enhancing tourism cooperation, recognizing Egypt and Croatia as prominent Mediterranean tourist destinations.
Both officials agreed to support the launch of direct flights between Egyptian and Croatian cities soon.
Moreover, Plenković also mentioned Croatia’s aim to attract skilled Egyptian workers, praising their strong reputation in the Croatian labour market and suggesting establishing a structured framework for labour cooperation through a bilateral agreement.
Economic and trade relations
The press conference followed extensive discussions between the Egyptian and Croatian prime ministers, focusing on enhancing economic and trade relations.
Madbouly emphasized the need to boost trade volumes to align with both countries' expectations.
Currently, 33 Croatian companies operate in Egypt, with total investments estimated at $20 million. However, bilateral trade declined from $212 million in 2022 to approximately $160 million in 2023.
To address this decline, Madbouly underscored the goal of surpassing $1 billion in bilateral trade by diversifying the trade mix, focusing on high-value-added goods, and ensuring a balanced trade relationship.
Madbouly noted that Egypt is exploring establishing a Ro-Ro maritime transport line with Croatia to enhance trade logistics, similar to the existing link between Egypt and Italy.
This initiative would improve Egyptian exports' access to European markets through Croatian ports, which Egypt considers “a vital southern gateway to the EU.”
MoUs and business forum
As part of their commitment to strengthening economic ties, the two prime ministers witnessed the signing of several memorandums of understanding to enhance cooperation in investment, maritime transport, and cultural exchange.
Egypt’s NAC also hosted the Egyptian-Croatian Business Forum on Tuesday.
Luka Burilović, president of the Croatian Chamber of Commerce, highlighted Egypt as Croatia’s "most important trading partner in Africa" and expressed confidence in strengthening commercial ties in the future.
The two prime ministers also discussed geopolitical developments in the Middle East, focusing on Gaza and broader regional stability.
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