Egypt, Switzerland Hold Inaugural Joint Economic Committee In Bern

(MENAFN- Daily News Egypt) Egypt and Switzerland convened the first meeting of their Joint Economic Committee in the Swiss capital, Bern, chaired at a technical level by Egypt's Ministry of Planning, Economic Development and International Cooperation. The meeting aimed to advance economic, trade, and investment relations between the two nations.

The discussions followed the signing of an agreement to establish the committee by Al-Mashat, and Helene Budliger, Swiss Director of the State Secretariat for Economic Affairs, at the World Economic Forum in Davos in January.

Al-Mashat stated:“The Egyptian-Swiss Committee is a platform to advance economic, trade, and investment relations between the two countries.” She emphasised the committee's role in exploring new opportunities, resolving challenges, and evaluating existing economic agreements to align with mutual interests.

The committee addressed the development of cooperation, enhancing private sector partnerships, and the joint cooperation programme for 2025-2028. Egyptian officials from ministries including Foreign Affairs, Finance, Investment and Foreign Trade, and Labour, alongside the Central Bank of Egypt and business representatives, participated.

Al-Mashat noted that Egyptian-Swiss relations have significantly evolved, with Egypt currently being Switzerland's largest trading partner in Africa.

The Egyptian delegation highlighted national efforts to improve the investment climate and strengthen macroeconomic stability through the National Structural Reform Programme, and pursuing predictable fiscal and monetary policies. Discussions covered outcomes of Egypt's economic reforms, the fourth review of its programme with the International Monetary Fund (IMF), and developing trade relations, leveraging agreements like the African Continental Free Trade Agreement and the European Free Trade Agreement.

Egyptian officials affirmed ongoing efforts to foster a favourable investment environment, improve the business climate, ensure fair competition, and increase private sector participation.

Both sides agreed to continue dialogue and coordination to facilitate investments, support the new Swiss cooperation programme in Egypt (2025-2028).

Side meetings included discussions with the Swiss Agency for Development and Cooperation on the upcoming cooperation programme; the Swiss-African Business Chamber on potential cooperation in Africa via Egypt, including a planned June event in Geneva; and insurance company Swiss Re, focusing on risk management and agricultural sector cooperation proposals for Egypt.

Egyptian-Swiss relations span over 45 years, with Switzerland being a development cooperation partner since 1979. In 2023, Egypt's exports to Switzerland reached $470m, Swiss exports to Egypt totalled $1bn, and over 82,000 Swiss tourists visited Egypt.

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