El-Sisi, Macron highlight strong Egypt-France economic partnership

President Abdel-Fattah El-Sisi and his French counterpart, Emmanuel Macron, reaffirmed their commitment to strengthening bilateral ties, with a focus on economic cooperation and joint investments, during the Egypt-France Business Forum in Cairo on Monday.

Both leaders' remarks were made at the forum's closing session, held on the sidelines of the French leader's official visit to Egypt.

The forum, titled Testimonies and Visions on the French-Egyptian Partnership, was organized by the Ministry of Investment and Foreign Trade, the General Authority for Investment and Free Zones (GAFI), and the French Embassy in Cairo.

Held at the El-Massa Hotel in Nasr City, the event featured Egyptian and French companies specializing in various fields, including health, new energy, green hydrogen, and artificial intelligence, among other areas.

During the forum, President El-Sisi praised Macron's efforts to support and develop strategic relations between both countries, stressing Egypt's keenness to benefit from French expertise and companies' capabilities.

"I sincerely thank you for the significant efforts you've made in developing relations between our countries. This partnership is one we greatly value," El-Sisi addressed Macron.

He noted that investing in Egypt is a favourable opportunity for French businessmen and companies due to the significant efforts made over the past decade in infrastructure and basic services.

"We've invested heavily in our infrastructure, including energy, ports, roads, and legislation," El-Sisi stated.

He further highlighted the economic reform process and free trade agreements concluded by Egypt within the African and Arab frameworks.

"Egypt is a land of opportunity," he said, emphasising the strategic opportunity for French companies to use Egypt as a hub for regional exports.

The president also underscored Egypt's enormous potential and workforce, noting that 60 percent of Egypt's population of 107 million is under the age of 40.

Additionally, he stressed the importance of establishing partnerships between Egypt and France in various fields, including health, industry, agriculture, education and tourism.

The president also emphasized the necessity for industrial localization in Egypt.

"It's crucial that we work together to localise industries in Egypt," he added. "This will help reduce the pressure on foreign currency reserves, especially as we import large quantities of essential goods and energy."

He stressed the state's commitment to removing any obstacles facing French investors and elevating Egyptian-French ties to broader horizons.

For his part, President Macron echoed El-Sisi's sentiments, underscoring France's long-standing commitment to Egypt.

He emphasised France's position as Egypt's leading European investor outside the energy sector, with more than €7 billion in private investments and 50,000 jobs created by French companies.

He underscored the Egyptian-French cooperation across health, energy, water, education, and infrastructure sectors.

Macron also praised El-Sisi's leadership and reaffirmed his belief in Egypt's stability and investment potential.

Earlier Monday, El-Sisi and Macron held talks in Cairo, where they witnessed the signing of several agreements and memorandums of understanding (MoUs) between both countries in various fields.

From : Al-Ahram