British trade mission explores joint projects in infrastructure, energy, finance

Ahram Online , Monday 28 Mar 2022

A trade mission organised by the Egyptian-British Chamber of Commerce (EBCC) in collaboration with the UK Department for International Trade (DIT) kicked off a tour in Egypt on Sunday, the British embassy in Cairo announced.

Chairman of the Egyptian British Chamber of Commerce (EBCC) Ian Gray and UK Ambassador to Egypt Gareth Bayley in Cairo in the first day of the mission (Photo : EBCC)

The mission, which is taking place from 27 to 30 March 2022, aims to showcase opportunities for joint projects between British and Egyptian companies in key sectors such as infrastructure, energy, and finance.

The mission, which comprises 31 delegates from 18 companies, is headed by chairman of the EBCC Ian Gray and is supported by UK Ambassador to Egypt Gareth Bayley.

“After over two years of COVID-19 restrictions, it is great for so many UK companies to have come with EBCC to Cairo looking for partners and opportunities, in particular with the private sector,” chairman of the EBCC Ian Gray said in the British embassy’s statement, adding that he looks forward to Egyptian companies meeting with the mission and discovering their opportunities.

The mission started its activities with meetings with officials at Egypt’s ministries of transport, housing, electricity and finance, as well as extensive private sector meetings, the British embassy said in its statement.

The delegates also visited the New Administrative Capital on Monday.

A meeting of the EBCC and DIT’s Infrastructure Committee is set to take place during the mission. The meeting will be attended by leading Egyptian companies operating in the infrastructure sector.

The initiative will bring together private sector companies from the UK and Egypt, relevant government departments, and international financial institutions in support of increased bilateral collaboration in this sector.

“Egypt’s construction sector has grown significantly over the past 10 years and is expected to grow further,” the embassy said, adding that infrastructure is a vital driver of the economy and has a significant and positive impact on economic growth.

The embassy’s statement said the Egyptian energy sector has grown steadily over the past few years, and there are numerous opportunities for sustainable projects in Egypt including span wind, water, and solar, creating great prospects for British business.

“As part of our Green Partnership between the UK and Egypt, we are committed to working together with Egypt to ensure that COP27 builds on the legacy of COP26 and that Egypt realises its ambitious sustainable energy strategy and continues on its path to clean growth,” Ambassador Bayley said, adding that the private sector will be essential in this regard.

“The Road to Green Economy trade mission by the Egyptian-British Chamber of Commerce is an important step in building bridges between the UK and Egypt that will strengthen our trade relationship and drive our mutual clean economic growth,” he added.

The UK is considered one of the biggest investors in Egypt, with its investments reaching around £50 billion through about 2,000 companies investing in the Egyptian market, Bayley said in remarks to the media in November.

Earlier on Monday, British Prime Minister Boris Johnson affirmed in a phone call with Egyptian President Abdel-Fattah El-Sisi the UK’s keenness to continue cooperating with Egypt in its efforts to confront climate change and any measures it takes to boost the economy.

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