The Egyptian-Italian Business Forum is set to take place during the first quarter of 2025, marking a pivotal step toward strengthening economic collaboration between Egypt and Italy. This forum aims to create pathways for new partnerships across multiple sectors and is highlighted by the upcoming visit from Minister of Investment and Foreign Trade, Hassan El-Khatib, who will explore these opportunities on Italian soil.
During a recent meeting with the Italian Ambassador to Cairo, Michele Quaroni, Minister El-Khatib discussed promising developments surrounding the launch of a Roll-On/Roll-Off (RORO) maritime transport line. This line will connect the Egyptian port of Damietta to Trieste, Italy, serving as part of broader efforts to fortify the bilateral economic ties between the two nations.
El-Khatib emphasized the importance of this initiative, stating, "The initiative is part of broader efforts to strengthen bilateral economic ties between the two nations." This RORO service is anticipated to facilitate smoother business exchanges, bolstering trade between Egypt and Italy.
Both officials discussed the digitization of customs procedures and the potential for leveraging Italy's advanced technologies to improve efficiency. Serbia's Minister highlighted the effort to streamline customs processes and expressed the goal of reducing clearance times to just two days by 2025, which would greatly benefit commerce and improve Egypt's position within global trade indices.
To accomplish these ambitious aims, they are considering organizing joint training programs and potentially sending Egyptian officials to Italy to gain insights from their Italian counterparts’ successful methods.
Ambassador Quaroni echoed El-Khatib’s enthusiasm for fostering cooperation, noting Italy’s growing interest across diverse sectors including vehicle manufacturing, recycling, and fuel production. "Italy remains Egypt’s largest trading partner within the European Union," he confirmed, reinforcing the importance of their partnership.
Trade between the two countries exceeded €6 billion in 2023, with Italy maintaining its status as Egypt's largest trading partner within the EU. The ambassador noted the presence of around 1,288 Italian companies operating within the country, contributing approximately $3 billion through investments.
Given the historical relationship between Egypt and Italy, the upcoming forum and initiatives like the RORO transport line represent significant opportunities for both sides. They could not only pave the way for enhanced trade relations but also cultivate long-term partnerships across various industries.
Such collaborative endeavors are largely viewed as productive avenues to achieve economic growth and mutual benefits for both countries. Enhancing the partnership between Egypt and Italy promises to yield significant dividends, marking the beginning of a dynamic era of economic cooperation.
The expectation for the Egyptian-Italian Business Forum is high, as stakeholders from both nations look forward to fruitful discussions and groundbreaking agreements. If successful, it will demonstrate the potential and resilience of international cooperation amid global economic challenges.
