Engineer Hassan Al-Khatib, Minister of Investment and Foreign Trade, participated in the session “The Growing Role of Emerging Economies in the Global Economy,” which was held within the framework of the activities of the 28th Annual World Investment Conference (WIC), which will be held in the capital, Riyadh, during the period from 25-27 November, and focuses on the importance of digital transformation and growth. Sustainable investment through expanding investment opportunities, with the participation of a group of the most prominent international figures from the government and private sectors, major investors, representatives of international organizations and bodies, and parties related to the development and promotion of investment.
The Minister stressed that Egypt is committed to creating a favorable investment climate environment with the aim of attracting more local and foreign investments to the Egyptian market, noting that international investment agreements play a major role in providing a framework to protect, promote and facilitate foreign investment, enhance confidence and support sustainable growth, as Egypt is one of the most signatory countries. On bilateral investment treaties.
Al-Khatib said that Egypt has all the capabilities and components that qualify it to attract more local and foreign investments, which include geographical location, a qualified infrastructure network, the availability of qualified workers, and competitive wages, pointing to the importance of trade and investment in advancing the Egyptian economy.
The minister pointed out that the Egyptian state is working to modernize the framework of its bilateral investment treaties to meet emerging challenges and align with global priorities, pointing out that Egypt has adopted an updated model for bilateral investment treaties that emphasizes sustainable development, the state’s regulatory framework, and investment protection.
Al-Khatib pointed out that the trade agreements that Egypt has with many countries in the world work to advance economic growth in Egypt by enhancing trade, diversifying the economy, and attracting foreign investments. They also allow opening international markets, reducing customs tariffs, and diversifying Egypt’s exports.
The minister explained that Egypt has a wide network of trade agreements at the bilateral and regional levels, which would support its efforts to enhance economic growth, increase Egyptian exports, attract foreign direct investments, as well as enhance its opportunities for greater integration into global and regional markets.
Al-Khatib stressed that Egypt aims through its trade agreements to achieve its priorities in several areas, especially sustainable development, resolving disputes fairly, and maintaining a balance of rights and obligations, noting that the successful implementation of these agreements would stimulate foreign investment and enhance regional partnerships. It contributes to achieving sustainable economic growth.
The minister pointed out that Egypt has a large number of free trade agreements, including the partnership agreement between Egypt and the European Union, the free trade agreement between Egypt and the European Free Trade Association countries, as well as the free trade agreement between Egypt and Turkey, the free trade agreement between Egypt and the Mercosur countries, and the partnership agreement between Egypt and the Kingdom. United Nations, in addition to the African Continental Free Trade Area Agreement, the Arab Free Trade Area Agreement, the Agadir Agreement, and others.
