Shaukat emphasized the importance of leveraging the strong
political and historical relations between Egypt and Pakistan to deepen investment
collaboration. He highlighted the growing interest of the Pakistani business
community in investing in Egypt, noting that the country is a major
manufacturing hub capable of accessing African and European markets. The
Pakistani Embassy in Cairo seeks to strengthen investment partnerships between
the business communities of both countries.
He revealed that several Pakistani companies are
considering, or have already made, new investments in Egypt. Key sectors
include pharmaceuticals, ready-made garments, mobile phones, information
technology, cookware, electric bicycles, and electric battery recycling.
He also praised the strength of Egypt’s IT sector,
particularly the competence of Egyptian programmers and the development of the
country’s fintech sector.
Heiba stated that Egypt has recently been able to attract
sustainable investments amid temporary global trade tensions. This success is
due to the implementation of the “Investment for Export” strategy and the
country’s participation in preferential trade agreements, which provide
Egyptian goods with preferential and competitive access to around 3 billion
consumers worldwide. He added that Pakistani investments in Egypt will benefit
significantly from the African Continental Free Trade Agreement (AfCFTA), which
connects Egypt to the continent with the fastest-growing economy in the world.
Relations with European Union markets have also been elevated to the level of a
comprehensive strategic partnership.
Heiba and Shaukat agreed on the need to further attract
Pakistani investments and increase reciprocal promotional visits in the coming
period. The demand for investment from Pakistan is growing, with 46 Pakistani
companies established in Egypt in the fiscal year 2024–2025, compared to only
17 companies in 2023–2024. This reflects rapid growth, despite the greater
investment potential between the two countries.
Heiba also highlighted the opportunity to establish a
tripartite partnership between Egypt, Pakistan, and Saudi Arabia. The goal is
to accelerate investment collaboration among entrepreneurs in these countries,
particularly in artificial intelligence and semiconductor sectors. He proposed
creating a dedicated platform to facilitate communication among entrepreneurs
across the three nations.