Trade envoy Jeffrey Donaldson and over 40 delegates from British companies will arrive in Egypt this week as part of one of the UK’s “biggest trade delegations” to visit the North African country to assess new trade and investment opportunities and identify potential Egyptian partners, the UK embassy announced.
“2016 saw investments from UK companies reaching over $30 billion, and 2017 is already delivering on the UK’s commitment to further deepen cooperation and help support Egypt’s economic growth efforts through increased British investments,” Donaldson in a press release by the embassy.
“This is the first time a majority of these companies have visited Egypt, showing the UK is putting its money where its mouth is in regard to new business,” he added.
British ambassador to Egypt John Casson highlighted that the UK is starting 2017 with three British business delegations in one week to bring new companies into new sectors in Egypt.
“This new growth builds on strong foundations: Egypt and Britain are natural economic partners with $2 billion of trade each year and $30.5 billion of investment powering the Egyptian economy since 2011,” the ambassador said.
The delegation includes the Invest Northern Ireland Trade mission, whose companies cover numerous sectors including energy, healthcare, food and drink, environment, waste management, construction and engineering, according to the statement.
Nine other companies brought under the auspices of the Egyptian British Chamber of Commerce (EBCC) focused on infrastructure and construction with regard to trade and investment opportunities in projects such as the new administrative capital and the Suez Canal Economic Zone.
Two other missions organised by Scottish Development International (SDI) and the Energy Industries Council (EIC) addressed the evolving opportunities in the Egyptian energy arena.
The delegation’s visit coincided with the Egypt Petroleum Show (EGYPS), the largest annual oil and gas event to take place in Egypt, which was attended by Sir Donaldson, Ambassador Casson, and the UK Director for International Trade Jason Ivory.
