Egypt is aiming to attract $800 million in new French investments over the next 15 months, Head of the Egyptian Commercial Service (ECS) Yahya Al Wathiq Billah told Al Arabiya Business.

Currently, French investments in Egypt are estimated at around $7.2 billion, Al Wathiq Billah said, expecting this figure to surpass $8 billion between October 2024 and the end of 2025.

The Egyptian market already hosts 940 French companies across sectors such as infrastructure, banking, insurance, energy, transportation, and communications.

This push for additional investment comes as Paris hosts the Egyptian-French Business Forum on September 30th and October 1st, with the aim to promote joint investments and attract further French involvement in Egypt.

Egyptian Minister of Investment and Foreign Trade Hassan El-Khatib is attending the forum and meeting with representatives from major French companies, focusing on sectors like energy, automotive, and infrastructure.

The ECS is also organizing meetings with French banks and investment funds to boost existing investments and encourage new flows of capital into Egypt.

Additionally, Egypt aims to increase its exports to France by 10% this year to rise from €4 billion in 2023 to €4.4 billion, Al Wathiq Billah pointed out.

The European Union (EU) countries, including France, are Egypt's largest trading partner, accounting for 27% of its total foreign trade, he added.

In 2023, trade between Egypt and the EU amounted to €32.6 billion, with €11.5 billion in exports and €21.1 billion in imports.

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