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Arab Finance: Egypt’s Minister of Investment and Foreign Trade, Mohamed Farid Saleh, met with Belarusian Ambassador to Cairo, Evgueni Sobolevski, to discuss deepening local manufacturing, advancing industrial partnerships, and increasing trade between the two countries, according to a statement.
The meeting, held as part of the ministry’s strategy to position Egypt as a regional hub for investment, addressed ways to strengthen joint economic cooperation and resolve technical and regulatory challenges affecting bilateral trade.
Saleh said Egypt prioritizes attracting value-added industrial investments and enhancing the competitiveness of its national economy, with a focus on localizing technology. He stressed that food safety and the protection of the Egyptian consumer are red lines, noting ongoing efforts with the Belarusian side to align technical specifications with international standards.
Discussions also focused on expanding cooperation in the manufacturing and assembly of heavy equipment, including tractors, trucks, and buses. Existing assembly lines were reviewed, with local component ratios reaching up to 45%.
The Belarusian side highlighted operational challenges facing these lines and called for support mechanisms, including exploring guarantees for purchasing part of the production to ensure sustainability.
Saleh emphasized that market standards and profitability remain essential for the continuity of industrial projects, while affirming the government’s openness to supporting strategic industries within a framework of governance and transparency.
On the trade front, the two sides explored opportunities to increase Belarusian food exports to Egypt, particularly dairy products such as powdered milk and butter, in addition to baby food. The Belarusian delegation requested a review of Egyptian import requirements, while Saleh noted that baby food products are subject to strict approvals by the National Food Safety Authority.
The minister added that the ministry is ready to facilitate technical inspection visits to Belarusian factories to ensure compliance with Egyptian standards.
Both sides agreed to intensify institutional coordination, including preparations for the eighth meeting of the Egyptian-Belarusian Joint Committee and the reactivation of the working group for industrial cooperation, which has not convened since July 2023. They also committed to strengthening communication between the business communities of both countries, including financial markets and relevant stakeholders.
As part of these efforts, the two parties confirmed plans to hold an Egyptian-Belarusian Business Forum in Minsk on May 7th, in cooperation with the Federation of Egyptian Chambers of Commerce (FEDCOC), to showcase investment opportunities and support direct partnerships between private sector players.
