Egypt keen to cooperate further with Spanish companies: PM

Ahram Online , Thursday 2 Dec 2021

Prime Minister Mostafa Madbouly said that Egypt is keen to cooperate further with Spanish companies in a meeting in Cairo with Spanish Prime Minister Pedro Sanchez and representatives of major Spanish companies on Wednesday, an Egyptian Cabinet statement read.

Egypt s Prime Minister Mostafa Madbouly speaks in a meeting with Spanish Premier Pedro Sanchez and representatives from major Spanish companies, 1 December 2021. Egyptian Cabinet

The meeting was held on the sidelines of the Spanish-Egyptian Business Forum, which was co-inaugurated in Cairo on the same day.

The companies represented in the meeting were: Spain’s water management company FCC Aqualia; Talgo, which specialises in the design and manufacture of trains; Siemens Gamesa, a leader in the renewable energy industry; oil services company Técnicas Reunidas; Indra Sistemas, a technology and defence systems company; Thales Group; railway services company CAF; and Spanish state-owned shipbuilding company Navantia.

Spanish PM Sanchez said that Spain seeks to boost the competitiveness of its business sector in the fields of water treatment, renewable energy, agriculture, and transportation via railways in a way that contributes to bolstering bilateral relations with Egypt.

He expressed his confidence in Spanish companies’ capabilities to significantly contribute to the ongoing development process in Egypt, the statement read.

In response, Madbouly hailed the partnerships between Egyptian and Spanish companies, saying they represent a successful model, and affirmed his aspiration to foster cooperation with the European country.

Since 1998, Siemens Gamesa has executed 80 percent of the wind farm projects in Egypt, according to the statement.

Furthermore, CAF is currently handling a number of projects for Egypt’s National Railways Authority and is seeking to secure additional contracts to extend the country’s metro lines.

Moreover, Madbouly announced that Talgo will be providing Egypt with six new trains, thanking the company for its decision to import an additional train as a gift.

Additionally, Técnicas Reunidas established the Damietta Gas Liquefaction Plant in northern Egypt.

Sanchez arrived in Egypt on Tuesday night accompanied by a high-level delegation in an official visit to participate in the co-inauguration of the Spanish-Egyptian Business Forum in Cairo.

On Wednesday, Sanchez held meetings with President Abdel-Fattah El-Sisi and PM Mabdouly.

Earlier on Wednesday, the Egyptian and Spanish sides signed a number of bilateral cooperation documents, including a joint declaration for the activation of the Egyptian-Spanish Business Council.

The declaration, the Egyptian government says, should enhance the presence of Spanish companies in Egypt and expand their business during the coming period.

The two sides also signed a joint declaration on financial cooperation, upon which the Spanish government will secure 400 million euros to finance the projects Spanish companies will implement in Egypt.

They also signed two memorandums of understanding to improve cooperation between the two countries in the fields of cultural discourse and sports.

This is the first visit by a Spanish PM to Egypt since 2010.

Trade exchange between Egypt and Spain totalled 1.96 billion euros in the first nine months of 2021, recording an increase of 23.8 percent from the same period of last year, Egypt’s Minister of Industry Nevine Gamea said on Wednesday.

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