Egypt's Minister of Trade and Industry Amr Nassar (Al-Ahram)
Egypt's Minister of Trade and Industry Amr Nassar and Poland's Minister of Investment and Development Jerzy Kwieciński discussed on Monday the progress of the Polish Industrial Zone in Ain Sokhna in the Suez Canal Economic Zone, according to a statement from Egypt's ministry.
The zone is set to be established in cooperation with Poland's Katowice Special Economic Zone (KSEZ), and will contribute to an increase in Egyptian exports to other African countries, Minister Nassar said.
The new zone will also capitalise on Poland's location as a gateway for Egyptian products into Central and Eastern European countries, the minister added.
Polish Investment and Trade Agency board member Wojciech Fedko had visited Egypt in March to discuss the establishment of the zone.
The ministers also addressed resuming direct flights between Cairo and Warsaw, as well as stepping up economic and investment relations between the two countries.
The Polish minister said that his country is keen on boosting economic relations with Egypt.
Procedures are being finalised to establish an Egyptian-Polish chamber of commerce, Nassar said.
The ministers also discussed a Polish proposal to establish an Egyptian-Polish business council as a step towards founding the chamber of commerce.
Trade balance between Egypt and Poland recorded $418 million in 2017.
Egyptian exports to Poland were valued at $143 million in 2017, a 13 percent year-on-year increase; a record number in bilateral trade relations.
Egypt's imports from Poland fell by 26 percent year-on-year in 2017 to $276 million.
The ministers also discussed increasing Poland's investments in Egypt. Polish investments in Egypt are mainly in tourism, manufacturing, construction, communications and services.