Part of the Egyptian-Kuwaiti Cooperation Council meeting with Egypt’s Foreign Minister Badr Abdelatty . Photo courtesy of Egyptian Foreign Ministry Facebook page.
During his official visit to Kuwait, Minister Badr Abdelatty engaged in high-level discussions to strengthen economic, trade, and investment ties, as the Egyptian Foreign Ministry announced.
Advancing Economic Cooperation
Minister Abdelatty highlighted Egypt's progress in boosting economic performance, enhancing private sector participation, and attracting foreign investment. He invited the Egyptian-Kuwaiti Business Council to visit Cairo to build on their 2022 discussions, reaffirming Egypt's full support for expanding trade and investment between the two nations.
He also emphasised Egypt's readiness to contribute to Kuwait's developmental projects through its infrastructure companies. Abdelatty outlined recent measures by the Egyptian government to create a more investor-friendly climate and address barriers while underscoring efforts to attract investment in critical sectors such as communications.
The Minister encouraged greater Kuwaiti involvement in Egypt's economy, describing Kuwaiti investors as essential to deepening bilateral economic cooperation.
Strengthening Bilateral Relations
Abdelatty met with senior Kuwaiti officials to explore collaboration opportunities and facilitate economic delegations. In talks with Foreign Minister Abdullah Al-Yahya, the two discussed regional issues, including the Israeli aggression in Gaza and Lebanon, calling for a ceasefire and efforts to prevent escalation.
They reviewed the outcomes of the 13th Joint Higher Committee session in Cairo. They made plans for the 14th session in Kuwait, focusing on implementing agreements to strengthen ties across political, economic, cultural, and educational sectors.
Meeting Crown Prince Sheikh Sabah Al-Khaled Al-Hamad Al-Mubarak Al-Sabah, Abdelatty highlighted Egypt's capacity to support Kuwait's infrastructure development and reaffirmed Egypt's unwavering commitment to Gulf security as integral to its national security.
Labour and Investment Opportunities
According to CAPMAS, Kuwaiti investments in Egypt amounted to $632.6 million in the 2022/2023 fiscal year, down from $669.3 million the previous year.
In discussions with Sheikh Fahad Yusuf Saud Al-Sabah, acting Prime Minister, Minister of Defence, and Minister of Interior, Abdelatty praised Kuwait's efforts to care for Egyptian nationals and emphasised their role in Kuwait's development. He offered Egypt's collaboration in providing skilled labour tailored to the Kuwaiti market's needs.
According to the Kuwaiti Central Statistical Bureau, over 474,000 Egyptians were working in Kuwait as of June 2024.
Enhancing Strategic Partnerships
In a meeting with Noura Al-Fassam, Kuwait's Minister of Finance and Minister of State for Economic Affairs and Investment, Abdelatty encouraged Kuwaiti investments in critical sectors such as food security, oil, gas, and petrochemicals.
He proposed activating the Joint Business Council and organising an investment forum to foster deeper economic collaboration. He also recommended leveraging the expertise of Egyptian companies gained from large-scale national projects to support Kuwait's modernisation and development efforts.
Moreover, he reiterated to Kuwait's Crown Prince Cairo's full support for Gulf security, viewing it as an integral component of Egypt's national security.
Kuwait's investments in Egypt for the 2022/2023 fiscal year totalled $632.6 million, a decrease from $669.3 million in the prior fiscal year, according to data from Egypt's Central Agency for Public Mobilization and Statistics (CAPMAS).
Egyptian workforce
Abdelatty also met with Sheikh Fahad Yusuf Saud Al-Sabah, acting Prime Minister, Minister of Defense, and Minister of Interior, where he stressed that Egypt is strengthening the private sector's role in driving economic development.
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