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Poland to establish industrial zone at Egypt’s SCZone - Daily News Egypt

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Poland to establish industrial zone at Egypt’s SCZone

New zone will focus on food, electronic, and auto spare part industries


Egypt’s Suez Canal Economic Zone (SCZone) and its counterpart in Poland’s Katowice signed an agreement, on Tuesday, to establish a Polish industrial zone in Ain Sokhna.

Minister of Trade and Industry Nevine Gamea witnessed the signing, which will see the Polish industrial zone established at the SCZone.

The agreement was signed by SCZone Chairperson Yehia Zaki, and Janusz Michalek, President of the Katowice Special Economic Zone. It took place in the presence of: Polish Deputy Foreign Minister Paweł Jabłoński; Grzegorz Piechowiak, Minister of State for Economic Development; Polish Ambassador to Cairo Michał Łabenda; and about 50 Polish officials and businessmen.

The agreement aims to establish a Polish economic zone in Ain Sokhna on an area of ​​400-1,000,000 sqm, with its focus on food, electronic, and auto spare part industries. 

The Polish delegation accompanied 18 Polish companies to inspect the industrial zone in Ain Sokhna, to find out which industries are best suited for the area. 

Gamea said that the project is an important step to support and develop the economic relations between Egypt and Poland. This is in a way that reflects the strength and durability of the Egyptian-Polish bilateral relations at all levels.

She noted that the project will become the first industrial zone of a European Union (EU) country in Egypt. It will contribute to opening new horizons for intra-regional trade and joint investments between the two countries, and will transfer the great Polish industrial expertise to the national industry.

This is particularly in the fields of information technology (IT), machinery and equipment, railways, transport, and communications.

Gamea indicated her ministry’s keenness to make this project a success by providing all the facilities it requires, in cooperation with the SCZone.

The minister pointed out that the Ain Sokhna area lies at the heart of the SCZone, and enjoys a unique strategic location regionally and globally. It also allows Egyptian products great access opportunities to many international markets Egypt has free trade agreements with. 

Moreover, the area represents a strong window for these markets, especially Arab country markets and African countries.

She added that a number of future cooperation initiatives between Egypt and Poland are currently being discussed. These include a focus on the areas of fisheries, converting vehicles to natural gas, and cooperation between the Egyptian Exchange (EGX) and the Warsaw Stock Exchange. 

These discussions will be translated into concrete cooperation projects that serve the interest of the Egyptian and Polish economies alike. 

Gamea highlighted the recent great development in the trade exchange movement between the two countries, as the total volume of trade between the two countries doubled, reaching $672m in 2019.

Topics: Poland

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https://dailyfeed.dailynewsegypt.com/2021/06/09/poland-to-establish-industrial-zone-at-egypts-sczone/
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