Madbouly and Meloni agree to boost Egyptian-Italian cooperation

Ahram Online , Monday 24 Jul 2023

During the International Conference on Migration and Development in Rome, Egyptian Prime Minister Mostafa Madbouly met with his Italian counterpart Giorgia Meloni and agreed on Sunday to enhance Egyptian-Italian cooperation.

Madbouly and Meloni
Egypt s Prime Minister Mostafa Madbouly in his meeting with Italian Prime Minister Giogeria Meloni in Rome on Sunday. Photo : Egyptian Cabinet.

 

The International Conference on Migration and Development aims to address issues related to irregular migration and to combat human trafficking, while also promoting economic development through collaborative efforts among nations.

The two leaders discussed a wide range of topics, including migration, trade, and energy during their discussions.

Madbouly highlighted Italy's significant role as Egypt's largest trading partner within the European Union and the fourth-largest globally.

He expressed the desire to strengthen cooperation in petrochemicals, natural gas, and renewable energy transmission from Egypt to Italy and other European countries.

Madbouly also mentioned the fruitful outcomes of Italy's Deputy Prime Minister and Minister of Foreign Affairs' visit to Egypt in March, which included cooperation in agriculture, irrigation, and food manufacturing. These are areas that Egypt aims to further strengthen in partnership with Italy.

Italy's Prime Minister expressed her commitment to reinforcing bilateral relations across various sectors and highlighted potential joint projects with Egypt.

Madbouly expressed his gratitude to Meloni for inviting Egypt to participate in the conference and acknowledged the country's role as a host to nearly nine million migrants and refugees, making migration issues highly significant.

Both sides agreed to share details of proposed projects between the two countries in the near future.

According to the Central Agency for Public Mobilisation and Statistics (CAPMAS), the trade volume between Egypt and Italy increased significantly in 2021, rising by 29 percent to reach $5.8 billion compared to the previous year's $4.5 billion. Moreover, Italian investments in Egypt increased by 40.3 percent during Q1 of FY 2021/22, reaching $448.8 million.

Egypt and Italy are both members of the East Mediterranean Gas Forum (EMGF), whose primary objective is to create a regional gas market in the Eastern Mediterranean and bolster trade relations among its eight member states.

Italy's energy giant Eni played a crucial role in the discovery of Egypt's Zohr natural gas field in its Mediterranean waters, which propelled Egypt to become a significant producer of this alternative energy source.

 

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