The inaugural Association Council created a new platform to further the ambition laid out in the UK-Egypt Association Agreement, signed in December 2020 according to a joint statement issued by Shoukry and Truss.
The ministers welcomed several recent commercial successes between both countries, including the two-line Cairo Monorail project, which includes trains manufactured in Derby and is supported by UK Export Finance (UKEF), and the Egyptian Navy’s purchase of two ex-Royal Fleet Auxiliary (RFA) ships including contracts for their refit and upgrade, the statement said.
The ministers discussed prospects for enhanced economic cooperation between both countries and agreed to work intensively to grow bilateral trade and investment and tackle any barriers to trade and sharing expertise.
They also agreed to work on reviewing and improving market access in the agriculture, healthcare, energy, and financial sectors, through the newly established subcommittee on trade.
Truss and Shoukry also discussed a wide range of bilateral, regional, and global issues of mutual interest, including consular issues and human rights.
According to the joint statement, the UK welcomed Egypt’s preparations to host COP27 in Sharm el-Sheikh in November 2022 as it takes over the COP Presidency.
“The UK and Egypt reinforced cooperation to deliver ambitious outcomes at COP27, building on the Glasgow Climate Pact and previous COP decisions.” The statement said adding that both countries noted the importance of supporting developing nations through a just transition, including sustainable energy and green hydrogen.
The statement said that the ministers looked forward to holding the meetings of the Association Council regularly to further enhance Egypt-UK cooperation in various fields and take stock of progress.
Shoukry and British Minister of State for Trade Penny Mordaunt also signed on Tuesday the decision to establish the subcommittee of trade and investment to bolster the cooperation between the two countries in various domains.
On Wednesday, Shoukry discussed Egypt’s economic reforms since 2014 as well as the challenges facing these reforms due to the global economic situation as well as opportunities to invest in green economy with representatives of the British business community and financial institutions, the Egyptian Foreign Ministry stated.
According to the Egyptian Foreign Ministry, Shoukry reviewed in the meeting Egypt’s economic reform process that aimed to achieve comprehensive, sustainable, and environmentally friendly development, based on Egypt's Vision 2030, the Sustainable Development Goals (SDGs) of the United Nations 2030 Agenda, and the African Union Agenda 2063.
The Egyptian Foreign Minister also referred to challenges facing the reforms due to the recent global economic developments that include the Russia-Ukraine crisis, explaining that the Egyptian government has taken various measures to mitigate the effects of the crisis on citizens.
The meeting also discussed Egypt’s preparations to host and assume the presidency of the COP27 in Sharm El-Sheikh next November with Minister Sameh Shoukry as president-designate.
According to the Egyptian Foreign Ministry, the meeting tackled methods of support from the community and financial institutions in the UK for efforts of the Egyptian presidency of COP27 to yield aspired results to promote international climate action at various levels, especially financing environment-friendly projects and enhancing investments in fields of combating climate change and transition to green economy.
This came during Shoukry’s official visit to London, which started on Monday, to launch the first session of the association council between Egypt and the UK.
On Monday, Shoukry met the British Minister of State for North Africa, South & Central Asia, UN, and the Commonwealth, Lord (Tariq) Ahmed of Wimbledon to discuss various bilateral issues between Egypt and the UK.