An Egyptian-Tunisian agreement to increase the volume of commercial investment between the two countries to one billion dollars
Egyptian-Tunisian agreement to increase the volume of commercial investment between the two countries to one billion dollars
Egypt Vision 2030 is in line with the seventeenth goal ofSustainable Development Goals (SDGs)which deals with strengthening the global partnership for sustainable development, which requires concluding global agreements, memorandums of understanding and partnerships with neighboring countries, in addition to governments, the private sector and civil society.
Within the framework of enhancing the flow of trade and investment movement and supporting technical cooperation between the Arab Republic of Egypt and the sister Republic of Tunisia, a memorandum of understanding was signed regarding the mutual recognition of certificates of conformity for non-food industrial goods in the Tunisian capital, and the agreement was signed by Engineer Khaled Sofi, Chairman of the General Authority for Standardization and Quality, and Engineer Issam Al-Najjar, President of the General Authority for Export and Import Control.
A high-level delegation witnesses the signing of the agreement
Ambassador Bassem Hassan, the Egyptian Ambassador to Tunisia, attended the signing ceremony, along with Mr. Mohamed Al-Maghrabi, the Egyptian Commercial Attaché in Tunisia, in addition to a high-level delegation from the leadership of the General Authority for Standardization and Quality, the General Authority for Control of Exports and Imports, and the Central Administration of Exports and Origin. From the Tunisian side, Mr. Nafie Boutini, Director General of the National Institute for Standardization and Industrial Property, and the technical delegation accompanying him.
Egyptian-Tunisian mutual credit for industrial products
The agreement aims to activate the memorandum of understanding through mutual approval of conformity certificates issued by the competent authorities in the two countries, covering Egyptian or Tunisian non-food industrial goods and products, agreed upon between the two sides in accordance with joint technical mechanisms and controls, as this mechanism works to reduce the time and cost of inspection before export.
It also aims to avoid duplication in conformity procedures, enhance mutual trust in regulatory systems and national laboratories, and remove obstacles that may hinder the access of products to markets, which leads to strengthening the national industry and enabling it to access regional markets more efficiently, in addition to enhancing trade cooperation.
A qualitative leap in the path of technical cooperation between the two countries
The two sides stressed that the agreement represents a major step to strengthen technical cooperation between the bodies concerned with quality and control in the two countries, and contributes to facilitating trade and raising the competitiveness of products, and enhances the efforts of the two governments towards effective economic integration that serves common commercial interests.
The discussions also included examining ways to enhance Tunisian investments in Egypt, presenting the opportunities available to Egyptian companies in the Tunisian market, raising the volume of trade exchange to one billion dollars, as well as identifying sectors that could witness joint cooperation between the private sectors in the two countries.
It is worth noting that the trade movement between Egypt and Tunisia is witnessing positive development, as the volume of trade exchange in 2024 reached about 434.5 million dollars, with a growth rate of 15.4%.
For its part,The Earth Guards Foundation expresses its gratitude for the government efforts made to develop various economic sectors by concluding memorandums of understanding and agreements with Middle Eastern and African countries to benefit from various development experiences, enhance international cooperation, attract new investments, provide job opportunities and localize industries, which in turn contributes to achieving comprehensive sustainable development, through… Achieving one of its goals, which is the eighth goal related to promoting comprehensive and sustainable economic growth and providing decent work opportunities for all.
