On the sidelines of Davos, an economic agreement was signed between Egypt and Switzerland

On the sidelines of Davos, an economic agreement was signed between Egypt and Switzerland

Within the framework of the efforts of the Earth Guards to raise awareness of sustainable development and environmental protection, and the subsequent coverage of relevant events; In this article, it sheds light on theWorld Economic Forum “Davos 2025”, whose activities began on January 20, and extend to January 24.

Among the highlights of the first day was the signing of an important economic agreement between Egypt and Switzerland, aimed at strengthening economic and environmental cooperation between the two countries, which helps develop bilateral economic relations, which reflects the commitment of both parties to achieving the goals ofSustainable development.

Dr. Mostafa Madbouly, “Prime Minister” – on behalf of President Abdel Fattah El-Sisi – participated in the activities of this forum, and witnessed – alongside Mr. Guy Parmelin, “Vice President of the Swiss Confederation” – the signing of the Joint Economic Committee Agreement between the Arab Republic of Egypt and the Swiss Confederation.

It should be noted that this agreement represents an important step in the process of Egyptian-Swiss cooperation, as it strengthens bilateral relations between the two countries in multiple fields, and these fields include trade, investment and economic development.

The agreement was signed by Dr. Rania Al-Mashat, “Minister of Planning, Economic Development and International Cooperation,” and Mrs. Helen Baudelager, “Swiss Minister of State for Economic Affairs,” where the Prime Minister indicated that the signing of the Joint Economic Committee agreement strengthens the economic ties between the two countries and works to achieve sustainable development in various sectors.

The main objectives of the agreement include: establishing the Joint Economic Committee, which would seek to provide a platform for exchanging information on bilateral trade and investment issues, promoting bilateral trade, facilitating corporate investments in the two countries, exploring new opportunities to access markets, and addressing obstacles that either party may face in the way of developing economic relations.

The event also included evaluating the current economic agreements, updating them and implementing them in a way that suits the needs and directions of the two parties, highlighting the important economic areas for each of them, and facilitating the exchange of experiences and good practices between specialists in different economic fields.

Dr. Rania Al-Mashat confirmed the depth of relations between Egypt and Switzerland, which extend to about 45 years, noting that Switzerland has been a strategic partner of Egypt since 1979, and has provided great support to enhance the development of the private sector and infrastructure and strengthen economic institutions. Over time, cooperation has evolved to include new areas such as empowering civil society, addressing migration issues, protecting groups most in need, and supporting Egypt’s international commitments in the areas of sustainable development.

The Minister explained that the total current bilateral cooperation portfolio between the two countries amounts to $71.6 million in grants; To finance 9 projects, the Swiss side finances public sector projects, non-governmental organizations and the private sector, which reflects Switzerland’s commitment to supporting sustainable development in Egypt through various projects covering many vital sectors.

Dr. Rania Al-Mashat indicated that future areas of cooperation between the two countries will include climate projects, and developing technical skills in various sectors, which contributes to achieving Sustainable Development Goals (SDGs) and enhancing the green economy in Egypt.

She also noted the possibility of future cooperation in the field of carbon emissions reduction mechanisms, climate change issues, women’s empowerment, enhancing the role of the private sector, and supporting the African continent and its development projects, in addition to cooperation within the framework of the “Novi” platform.

In conclusion, these international partnerships have a very important role in facing global challenges. Because it contributes to exchanging experiences and knowledge, and accelerating the pace of achieving Sustainable Development Goals (SDGs). Thus building a more sustainable future.