Shoukry discusses Libya crises, investment with Italian counterpart

Ahram Online , Thursday 1 Dec 2022

Egypt’s Foreign Minister Sameh Shoukry discussed the latest developments in Libya with his Italian counterpart Antonio Tajani in Rome on Thursday, a statement from the Egyptian Foreign Ministry said.

Egypt s Foreign Minister Sameh Shoukry with his Italian Counterpart Antonio Tajani in Rome on Thursd
Egypt s Foreign Minister Sameh Shoukry with his Italian Counterpart Antonio Tajani in Rome on Thursday

In his meeting with Tajani, Shoukry shared Egypt's view of regional issues,  highlighting Egypt's efforts to settle these issues and restore stability and peace in the region, according to the statement by the foreign ministry.

The statement noted that the two officials also discussed bilateral Egyptian-Italian relations, especially in the fields of economy and investment.

Italy is one of Egypt's largest trade partners in the European Union.

In 2021, the trade volume between the two countries rose by 29 percent to reach $5.8 billion, up from $4.5 billion in the previous year.

Egypt’s exports to Italy rose by 91.4 percent in 2021, bringing in nearly $2.8 billion, up from $1.5 billion in 2020.

Italian investments in Egypt also rose by 40.3 percent: from $320 million during the last quarter of FY 2020/2021 to $448.8 million during the first quarter of FY 2021/2022.

The two countries are also members of the Cairo-based East Mediterranean Gas Forum (EMGF), which was formed in 2019 to establish a regional gas market in the Eastern Mediterranean and to enhance trade relations between its eight member states.

Egypt: a strategic country for Italy

“Egypt is a strategic country for the stability of North Africa,” The Italian FM said.

According to a short statement issued by Italian FM Tajani on Twitter, both Shoukry and he discussed ways to strengthen cooperation between Egypt and Italy in energy, climate, food security and immigration issues.

The Egyptian Foreign Minister embarked on an official visit to Italy on Wednesday to enhance bilateral relations between the two countries and to attend the eighth edition of the Rome MED – Mediterranean Dialogues conference, slated for 1-3 December in Rome.

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