The Egyptian-Swiss Business Forum charts a path to strengthening partnership towards sustainable development

Enhancing effective partnerships between countries and institutions is a fundamental pillar for achievingSustainable Development Goals (SDGs), in addition to focusing on investing in national capabilities and developing economic sectors in a way that ensures long-term stability and growth.

As well as developing infrastructure, supporting innovation, and building human capabilities are essential elements for creating a balanced economic environment that contributes to achieving the well-being of societies.

There is no doubt that joint cooperation and exchange of experiences between various parties contributes to opening new horizons for economic growth, creating sustainable job opportunities, and enhancing competitiveness, ensuring that everyone benefits from economic opportunities in a fair and comprehensive manner. This approach also encourages innovation and continuous development, and supports the transition towards a more efficient and sustainable economy.

Egyptian-Swiss Economic Forum

In this context, Eng. Hassan Al-Khatib, Minister of Investment and Foreign Trade, participated in the activities of the Egyptian-Swiss Economic Forum organized by the Swiss Chamber of Commerce in Egypt, in the presence of Dr. Khaled Abdel Ghaffar, Deputy Prime Minister for Human Development and Minister of Health and Population, Dr. Andreas Böhm, Ambassador of Switzerland in Cairo, Mrs. Helen Budleger Arteda, Swiss Secretary of State for Economic Affairs, and Eng. Kamal Abdel Malik, Chairman of the Board of Directors of the Swiss Chamber of Commerce in Cairo. Egypt.

Engineer Hassan Al-Khatib, Minister of Investment and Foreign Trade, confirmed that the partnership between Egypt and Switzerland represents a distinguished model of joint cooperation that ensures the achievement of one of the axes of economically sustainable development, especially the goal related to decent work and economic growth, especially in light of the strength and diversity of bilateral relations, especially in the fields of precision industries, pharmaceutical industries, and heavy industries, explaining that this partnership reflects a true integration between industrial and technological capabilities. For both countries.

Egypt is a pivotal partner for Europe

Al-Khatib pointed out that the countries of the European continent, in light of their efforts to enhance their competitiveness and reposition their supply chains, have become in need of geographically closer and more flexible partnerships, pointing out that Egypt represents a pivotal partner in this context with its strategic location and growing production capabilities.

The minister explained that trade relations between Egypt and Switzerland are currently witnessing tangible momentum. The volume of trade exchange between the two countries during the past year amounted to about 2.3 billion dollars, with a surplus achieved in favor of Egypt, considering that this indicator reflects the strength of the economic relations between the two countries

Al-Khatib added that the Egyptian market hosts more than 100 Swiss companies working in advanced industrial and technological fields, representing highly efficient production and export platforms, stressing that this presence reflects accumulated confidence in the Egyptian economy and opens the way for strengthening partnerships and developing the economy, including local manufacturing and technology transfer.

The minister said: The state has implemented large investments in infrastructure projects, including road networks, ports, and clean energy, in addition to establishing more than 22 new sustainable cities. This reflects the great interest on the part of the incumbent state towards achieving the comprehensive Sustainable Development Goals (SDGs) in all their axes.

An integrated package of economic reforms

The Minister also confirmed that the state launched about a year and a half ago an integrated package of economic reforms that aimed to enhance competitiveness and improve the business environment in a way that ensures the achievement of sustainable economic and social development, explaining that the focus was on the actual results of the policies, in order to achieve real economic stability.

Al-Khatib indicated that at the level of monetary policy, the government adopted an approach aimed at reducing inflation rates instead of targeting the exchange rate, pointing out that this policy resulted in reducing inflation from levels of approximately 40% to about 12.3% within a year and a half, with the Central Bank’s expectations of reaching rates ranging between 7% and 9%.

The minister added that other financial indicators reflect the success of the reform program, as foreign assets increased from about $18 billion to nearly $30 billion, while cash reserves exceeded $51 billion.

Al-Khatib explained that financial policy has witnessed a qualitative transformation; The Ministry of Finance has adopted an approach of simplification and reducing burdens on investors, noting that despite not increasing taxes, tax revenues rose by 35% within one year, which is the highest increase since 2005, which reflects the improvement in the efficiency of tax administration and the expansion of the tax base.

Trade Facilitation and Barrier Reduction

With regard to the efforts made to facilitate trade, the minister explained that Egypt aims to be one of the best 50 countries in the world in terms of trade competitiveness, in terms of reducing the cost and duration of customs release, pointing out that within one year, the time and cost were reduced by 65%. This improvement resulted in direct savings estimated at about $1.5 billion, which enhances the competitiveness of Egyptian products.

Al-Khatib stressed the government’s commitment to removing non-tariff barriers, working with partners in the European Union and relevant international bodies, and opening a new page in the investment file.

From the above, we see how Egypt is moving with practical steps to link investment and economic partnerships with Sustainable Development Goals (SDGs), as a clear course of action through active participation in the Egyptian-Swiss Business Forum. The focus on infrastructure, industrial development, supporting the private sector and strengthening economic partnerships reflects a trend that seeks to achieve real economic growth that provides job opportunities and enhances long-term stability.

For its part,The Earth Guards Foundation believes that this approach confirms that achieving comprehensive sustainable development in Egypt is based on effective partnerships, continuous reforms, and a vision that links economic growth with the needs of society, ensuring the achievement of tangible and sustainable results.