Welcome Address ofAhmed El WakilChairman, Fédération of Egyptian Chambers

14 يوليو، 2024

By Mahmood ElAraby from Economic Gate

Excellencies, partners

Ladies and Gentlemen

On behalf of the Federation of Egyptian Chambers, and its 5 million members, it gives me great pleasure to welcome the President of the Republic of Serbia, and his escorting business delegation, where I am proud to say that Egypt is again The Land of Opportunities.

Today, political and economic stability is a fact not a dream.

Egyptians already agreed on a new constitution that states that “Free Market Economy” and “private Sector” are the only way forwards.

Egypt is working on a fast track creating an attractive business climate, based on modernization of its business laws, regulations and infrastructure, major economic reforms, and offering Specific business opportunities.

Reforms including golden license, and the government ownership policy, supported by a stimulus package through mega projects, including Suez canal corridor, reclamation of 1.5 million acres, new capital, modern infrastructure, all in a few years where Egypt can provide this experience for the Belgrade EXPO of 2027.

With a population of over 100 million and an increasing per capita income, Egypt has the largest domestic market in the region.

But more important is Egypt’s position as the cross-road of trade
• Located in the Middle of all Trade Routs, thanks to the Suez Canal
• Free Trade Areas of over 3 billion consumers (for manufacturing & Subcontracting with 100% custom exemption, and only 35% – 45% local content requirement) including the EU, UK, EFTA, the Arab World, COMESA, Mercusur, USA and Turkey and ALL f of Africa.

Egypt today is The Land of Opportunities, in trade, logistics, industry, infrastructure, agriculture, mega-projects, tourism, and more.

Now its time to walk-the-talk, and join forces:
• Serbia can provide industrial inputs for joint local manufacturing.
• Together we can increase Joint Exports to Third countries through added value subcontracting, assembly, or investments to benefit from Free Trade Agreements
• Together we can implement projects in Africa where the top ten Egyptian companies have invested over ten billion dollars in 21 African countries in the past few years, most of which are with us today
• All supported by with 22 billion Euros of soft loans and trade and investment guarantees from donors and development banks and funds.

And naturally, with the new free trade agreement, increasing our bilateral trade is a must.

We invite you to do business with, and through Egypt, the land of opportunities.