UK and Egypt announce joint economic partnership at The UK-Africa Investment Summit

By Maureen Maingi

It has been officially announced that following the UK-Africa Investment Summit, the UK and Egypt are going to enter an economic partnership. 

The UK-Africa Investment Summit, which took place earlier this week, has been hailed as an enormous success. The event, which took place in London and welcomed 16 African leaders, sought to present the UK as an investment partner of choice to the nation and its leaders. Of the many agreements and partnerships to emerge from the summit, the Secretary of State for International Development of the United Kingdom Alok Sharma and Minister of International Cooperation for the Arab Republic of Egypt Dr. Rania Al-Mashat have agreed in a joint statement to enhance economic cooperation.

Secretary of State for International Development of the United Kingdom Alok Sharma said: “The UK is committed to deepening its bilateral cooperation with Egypt and growing our strong trading relationship. Our joint statement paves the way for us to intensify our economic partnership and support Egypt to develop a sustainable economy that can benefit future generations.”

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The event had already seen a number of new partnerships emerge, including a partnership between Africa’s leading data provider, Asoko Insight and UK’s Department for International Trade (DIT), to create a digital DealRoom at the summit, which would facilitate UK investments in Africa. 

Minister of International Cooperation of Egypt Dr. Rania Al-Mashat said: “The UK is a strategic partner to Egypt and I look forward to strengthening the cooperation between our two countries. Together, we will work on the full implementation of the programs in our joint statement, which are designed to achieve sustainable economic growth by delivering on Egypt’s 2030 vision consistent with the UN Sustainable Development Goals.”

For more information on business topics in the Middle East and Africa, please take a look at the latest edition of Business Chief MEA.

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