Egypt and Thailand on Thursday signed a Memorandum of Understanding (MoU) to create a joint trade committee and a shared action plan for economic cooperation. This initiative aligns with Egypt's strategy to strengthen its economy, attract foreign investments, and facilitate trade. The agreement aims to devise mechanisms to eliminate trade barriers, diversify exports and imports, and deepen bilateral cooperation. The joint economic cooperation plan will serve as a platform to streamline collaboration and identify priority areas for achieving the objectives outlined in the MoU. Eng. Hassan El-Khatib, Egypt's Minister of Investment and Foreign Trade, presented the Egyptian government's vision for building a competitive, investment-attractive economy. He highlighted Egypt's ambition to become a regional hub for investment and trade by fostering a dynamic and competitive economic environment that appeals to investors worldwide while providing a business-friendly atmosphere to drive economic development. The minister noted that a key component of this vision is implementing a series of economic reforms aimed at accelerating customs procedures. The Egyptian government is working to reduce customs processing times to just two days by 2025—a significant step towards enhancing trade efficiency and facilitating business operations. El-Khatib also emphasised Egypt's strategic location as a gateway for Thai investments and exports to the Middle East and Africa. With its numerous free trade agreements with various countries and economic blocs, Egypt offers unparalleled access to these regions. Attribution: Amwal Al Ghad English
