Egypt s Minister of Petroleum and Renewable Resources Tarek El-Molla and his Djibouti s Counterpart Ali Guedi. Source: Ministry of Petroleum and Renewable Resources.
In their meeting in Cairo on Monday, El-Molla stressed to Guedi Egypt's keenness to share these expertise and capabilities with Djibouti to help it advance its petroleum industry, taking into account that these companies have implemented many successful projects inside and outside Egypt and in many Arab and African countries.
This comes in implementation of the political leadership's directives to take practical steps to achieve the Egyptian-African rapprochement, particularly in vital fields; such as oil and gas areas, the minister added.
El-Molla also stressed the importance of the memorandum of understanding (MoU) signed by the two countries in the oil field on the sidelines of the Cairo-hosted summit between President Abdel-Fattah El-Sisi and his Djiboutian counterpart Ismail Omar Guelleh in February.
The two ministers also discussed Egyptian capabilities and expertise of the petroleum sector companies in many fields; such as the implementation of petroleum projects, technical support, maintenance and logistics services, represented in the establishment and operation of pipeline networks for the long-distance transportation of oil and gas, oil storage and trading depots, as well as the management of petroleum ports and capacity building and training of cadres.
For his part, the Djiboutian minister said his country is looking forward to cooperating with Egypt in developing the capabilities of its oil and gas industry during the coming period.
The Djiboutian minister and his accompanying delegation are set to visit the headquarters of the Egyptian Natural Gas Holding Company (EGAS) to get acquainted with Egypt's potentials in the natural gas industry, expertise and technology that are employed to manage and develop the Egyptian natural gas industry that made Egypt among the distinguished countries at the regional and international levels in this field.
The value of trade exchange between Egypt and Djibouti recoreded $95 million in 2021, compared to $82.1 million in 2020 - a 15.7 percent increase YoY.
In 2016, Egypt and Djibouti signed a Memorandum of Understanding (MoU) for developing bilateral trade relations.
In March of this year, Egypt and Djibouti officially inaugurated a direct flight route between the two countries for the first time.