Swiss Federal Councillor Guy Parmelin, head of Switzerland’s Federal Department of Economic Affairs, Education, and Research, will conduct an economic mission to Cairo from 2 to 5 February, a statement from Swiss embassy said on Sunday.
Parmelin will be accompanied by a high-level Swiss delegation, composed of members of parliament, government officials, and numerous business leaders. He is due to meet with Prime Minister Mostafa Madbouly, Minister of Trade and Industry Nevine Gamea, and Minister of International Cooperation Rania Al-Mashat.
More than 60 Swiss companies are established across a wide range of sectors in Egypt. Bilateral trade reached almost $1.3bn in 2019, according to Swiss statistics, and Egypt is the biggest market for Swiss exports in the African continent, said the statement.
With a Free-Trade Agreement (through the European Free-Trade Association), a double taxation agreement and an investment protection agreement, economic relations between the two countries take place within a solid bilateral legal framework.
Egypt is a priority country for Switzerland’s development and economic cooperation programme since 1979. Projects implemented since then have had a strong focus on infrastructure, urban development, job creation, financial inclusion, and private sector development.
This is Parmelin’s first visit to Egypt, where he comes with the objectives of boosting economic relations between the two countries and providing a platform for Swiss companies to explore investment and trade opportunities in Egypt.
The delegation will also take part in a Swiss-Egyptian Investment Forum organised by Egypt’s General Authority for Free Zones and Investments (GAFI), which will provide an adequate platform to gain an overview of the investment climate in Egypt and explore new investment opportunities for Swiss businesses.
The programme also includes visits to Swiss companies, projects of the Swiss cooperation programme, and cultural sites.