Prime Ministers Mostafa Madbouly of Egypt and Mohammed bin Abdulrahman bin Jassim Al Thani of Qatar co-chaired a meeting to discuss strengthening bilateral cooperation across various sectors. The meeting, held at the Council of Ministers headquarters in Egypt’s New Administrative Capital, focused on boosting trade, investment, and joint projects.
The Egyptian delegation included Kamel El-Wazir, Deputy Prime Minister for Industrial Development and Minister of Industry and Transport; Rania Al-Mashat, Minister of Planning and Economic Development and International Cooperation; Manal Awad, Minister of Local Development; Badr Abdelatty, Minister of Foreign Affairs and Immigration and Egyptians Abroad Affairs; and Ambassador Ihab Fahmy, Assistant Minister of Foreign Affairs for Arab Affairs.
The Qatari delegation comprised Abdullah bin Hamad bin Abdullah Al Attiyah, Minister of Municipality; Sheikh Faisal bin Thani bin Faisal Al Thani, Minister of Commerce and Industry; Maryam bint Ali bin Nasser Al Misnad, Minister of State for International Cooperation; Tariq Ali Faraj Al Ansari, Ambassador of the State of Qatar to Egypt; and several other officials.
Madbouly expressed appreciation for the Qatari Prime Minister’s visit, highlighting the two countries’ commitment to increased communication and coordination on regional matters. He emphasised building upon the progress in political, economic, and investment relations. “Welcome to Egypt, your second home,” Madbouly said. “We are delighted to host you at the Council of Ministers in the New Administrative Capital.”
Madbouly noted that a prior meeting between President Abdel Fattah Al-Sisi and the Qatari Prime Minister reinforced both nations’ desire to strengthen cooperation. He cited a significant North Coast real estate project as a key area for collaboration, highlighting the expertise of Qatari construction companies, particularly their experience gained during the FIFA World Cup. He also mentioned opportunities for partnerships with Egyptian companies working on projects in Africa.
Both sides expressed a desire to improve trade exchange rates, with Madbouly assuring cooperation with Qatari authorities to achieve this goal. He highlighted Qatari interest in manufacturing collaborations and presented Egypt’s diverse industrial investment opportunities. He proposed using Egypt as a gateway to the African market and countries with free trade agreements.
Further discussions included potential Qatari investment in North Coast tourism and hospitality, with similar opportunities in Greater Cairo and the New Administrative Capital. These involved possibilities for acquisition or partnership with Egyptian private-sector companies. Cooperation in ports, logistics, and data center development was also discussed, with Madbouly mentioning projects in New Alamein and Greater Cairo. He also noted that Khaled Abbas, Chairperson of the New Administrative Capital Company, had previously presented real estate and tourism sector investment opportunities in Doha during October 2023 at the Qatar Real Estate Forum.
Madbouly reiterated Egypt’s dedication to the Egypt-Qatar Investment Forum, the first session of which took place in Cairo last November. He expressed hope for another session in the first quarter of 2025.
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Al Thani expressed gratitude for the warm welcome and highlighted a productive meeting with President Al-Sisi. He commended Madbouly’s comments on strengthening bilateral ties and investment opportunities, reaffirming Qatar’s commitment to enhanced cooperation.
He underscored Qatar’s intention to strengthen investment cooperation with Egypt in various sectors, mentioning the success of Qatari real estate companies in Egypt and opportunities to significantly increase trade exchange rates. He instructed relevant Qatari government agencies to establish targets for increased trade and confirmed ongoing collaboration with Qatari investors in Egypt’s industrial sector. He further discussed potential cooperation on humanitarian efforts in Gaza.
Madbouly emphasised the importance of joint efforts to address the humanitarian situation in Gaza, expressing hope for a swift resolution to the conflict and collaboration on post-conflict reconstruction.
Abdullah bin Hamad bin Abdullah Al Attiyah, the Qatari Minister of Municipality, described the North Coast real estate project as highly important, and plans were made to consult with the Egyptian project team. Madbouly immediately offered to begin these consultations to expedite the project.
Sheikh Faisal bin Thani bin Faisal Al Thani, the Qatari Minister of Commerce and Industry, stated his commitment to working towards increased trade exchange rates and industrial integration between the two countries. Maryam bint Ali bin Nasser Al Misnad, the Qatari Minister of State for International Cooperation, discussed developmental and humanitarian projects with Rania Al-Mashat, expressing hopes for rapid progress.
Kamel el-Wazir confirmed substantial agreement on manufacturing collaboration, highlighting investment opportunities and suggesting a designated industrial zone for Qatari factories or participation in existing factories. He mentioned opportunities in aluminum and iron, along with potential cooperation in ports and logistics. He stressed that any North Coast investment would benefit from Egypt’s existing infrastructure.
Al-Mashat expressed appreciation for discussions with her Qatari counterpart on development projects focusing on employment and youth empowerment, aiming for a rapid implementation plan. The Minister of Local Development highlighted investment opportunities in various governorates. Badr Abdelatty emphasised the importance of humanitarian cooperation regarding Gaza and planned participation with Doha in an upcoming international conference.
Finally, Madbouly announced the creation of a smaller working group to implement agreements reached, with immediate action within days.
Source: dailynewsegypt.com
