The two ministers discussed ways to enhance joint cooperation between Egypt and Kuwait. During the meeting, they also touched upon developments in the economic situation and challenges at the regional and international levels, in light of recent economic developments. They reviewed areas of joint work between the two countries regarding planning, economic development, and international cooperation.
Dr. Al-Mashat praised the bilateral relations between Egypt
and Kuwait, affirming that the relations between the two countries include areas
of joint cooperation such as economy, culture, education, and others. She
confirmed that Kuwait is one of Egypt's most prominent economic partners in the
Middle East. She referred to the state's efforts to support industrial development,
increase the volume of trade and commodity exports, pay attention to
entrepreneurship projects, and stabilize the macroeconomy while encouraging
competitiveness and empowering the private sector, through structural reforms
based on three main pillars related to enhancing the competitiveness of the
Egyptian economy, improving the business environment, supporting macroeconomic
resilience, and stimulating the green transition. This aims to enhance the
attraction of local and foreign investments, especially from the sisterly State
of Kuwait, praising the role of the Kuwait Fund for Development in supporting
development projects in Egypt, most notably the Sinai Peninsula development
program projects.
She pointed out the Ministry's endeavor to diversify the
sources of financing available to the private sector from international
institutions and the ongoing work to activate the European guarantees mechanism
worth 1.8 billion euros, in addition to expanding the scope of tools available
from other international institutions, noting that the concessional development
financing for the private sector from development partners amounted to $4.2
billion last year, exceeding for the first time the financing directed to the
government.
Dr. Rania Al-Mashat pointed out the importance of the joint Egyptian-Kuwaiti committee, which works to achieve the greatest possible degree of coordination and joint cooperation, in addition to the two countries' connection through numerous cooperation protocols between various institutions of the two countries, noting the results of the 13th session of the joint Egyptian-Kuwaiti committee held in Cairo last September, during which an executive program for the scientific and technical cooperation agreement between the governments of the two countries was signed.