Madbouly described the high-level official visit of French President Emmanuel Macron to Egypt as a historic visit that represents the culmination of the long-standing relations between Egypt and France and a consolidation of joint cooperation in various fields, particularly in the field of economic cooperation between the two countries.
He indicated that the French President's visit has had
positive outcomes in terms of advancing economic cooperation between the two
countries in various priority areas, particularly with regard to strengthening
and intensifying French investments in Egypt. It is expected that these joint
relations will witness an expansion of the involvement of French companies in
Egyptian economic activities, especially given the accumulated experience these
companies have gained in Egypt over the past decades.
Madbouly then discussed an analysis of the
repercussions of the recent US decisions to impose customs duties, as well as
the measures that various ministries will take to leverage these measures,
contributing to the localization of various industries.
Engineer Hassan Al-Khatib, Minister of Investment and
Foreign Trade, indicated that there are a set of specific measures with a
commercial impact aimed at supporting a number of industries and stimulating
certain sectors, such as technology. These measures will be coordinated with
the relevant ministries.
Madbouly said, "I have tasked the ministers of the economic group with developing specific scenarios for action during the coming period to ensure the stability of the economic situation, stimulate the investment climate, and localize various industries."