Qatar to pump more investments in Egypt in upcoming period: Sheikh Tamim to PM

MENA , Monday 27 Feb 2023

In a meeting with Prime Minister Mostafa Madbouly on Monday in Doha Emir Sheikh Tamim bin Hamed said that the Gulf state will increase the size of the Qatari investments and cooperation in Egypt in the upcoming period.

PM Madbouly
Emir of Qatar Sheikh Tamim bin Hamed in his meeting with Prime Minister Mostafa Madbouly in Doha on Monday (Photo: Egyptian Cabinet)


According to the Egyptian cabinet, Sheikh Tamim asserted in his meeting with the Egyptian Prime Minister Qatar’s keenness to boost its economic relations with Egypt and to increase the size of Qatari investments.

The Emir of Qatar added that the Egyptian economy was doing very well during the past years and that Egypt was making rapid progress in multiple sectors, but that both the Covid-19 pandemic and the Ukrainian-Russian crisis have cast a shadow on Egypt as well as the rest of the world.

Tamim bin Hamed also added that the Egyptian state still has very great potential and that it was important to continue in development efforts and plans, noting that there will be an increase in the upcoming period in the volume of Qatari investments and in cooperation between the two countries.

Prime Minister Mostafa Madbouly also met on Monday with Qatari Prime Minister and Interior Minister Sheikh Khaled bin Khalifa Al-Thani.

They discussed increasing the size of trade exchange between Egypt and Qatar as well as the cooperation between the two countries in the field of green hydrogen in light of Egypt’s potential for production at a competitive cost.

They also discussed the possibility of exporting energy to Europe through a pipeline.

The two prime ministers agreed during the meeting on preparing a visit for a delegation of Qatari businessmen to free zones as well as to the Suez Canal economic zone.

Primer Mostafa Madbouly and his Qatari counterpart attended on Monday the signing of an agreement to prevent dual taxation and tax evasion.

The deal was signed by Egyptian Minister of Finance Mohamed Maait and his Qatari counterpart Mohamed El-Kawari.

Egyptian Cabinet Spokesman Nader Saad said that the agreement is part of efforts to develop relations between the two countries in various economic fields and to encourage investment chances and eliminate obstacles hindering economic and investment measures.

Prime Minister Mostafa Madbouly arrived in Doha on Sunday evening, leading a high-level delegation for an official visit to Qatar.

Qatari Minister of Transport Jassim bin Saif bin Ahmed Al-Sulaiti, Qatari Ambassador to Egypt Salem bin Mubarak Al-Shafi, and Egyptian Ambassador in Doha Amr El-Sherbini received the Egyptian delegation upon their arrival at Doha International Airport.

The ministers of planning, health, finance, trade and industry are accompanying the premier during his visit, along with the heads of the Suez Canal Economic Authority and the General Authority for Investment and Free Zones, and representatives of the bodies concerned.

The Central Agency for Public Mobilisation and Statistics (CAPMAS) revealed on Monday that the value of trade exchange between Egypt and Qatar increased to $ 80.1 million in the first 11 months of 2022, compared to $ 45.5 million in 2021, recording an increase of 76.2 percent.


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