Egypt and the United Kingdom have pledged to deepen economic and investment ties and push for global financial reform, during talks between senior officials from both countries on the sidelines of the G20 Development Ministers' Meeting in South Africa. Egypt's Minister of Planning and International Cooperation Rania Al-Mashat met with UK Minister of State for International Development Jenny Chapman to explore new avenues for bilateral cooperation and align on development priorities, including efforts to restructure the global financial system and reform the operational framework of the United Nations. The ministers said the upcoming visit of UK Prime Minister Keir Starmer during autumn 2025 to Cairo would mark a turning point in relations, elevating them to a strategic partnership and unlocking new opportunities for collaboration. The visit builds on momentum from the 2024 EU–Egypt Strategic Partnership. Earlier on July 22, the UK government announced the launch the Strategic Partnership with Egypt would take place during a planned visit to Cairo by the Prime Minister in the autumn of 2025. "To unlock new mutual growth opportunities and strengthen economic ties, the Prime Minister and President Sisi will jointly chair an Investment Conference convening key British and Egyptian businesses." the statement added. During the meeting, Minister Al-Mashat highlighted Egypt's upcoming "National Economic Narrative," a policy framework aimed at accelerating structural transformation, promoting tradable sectors, encouraging FDI, and driving industrial growth. She noted that Egypt has implemented a new wave of macroeconomic and structural reforms since March 2024 to stabilise the economy and improve the business environment. The two sides stressed the need to activate international efforts to reshape the global financial system, with a focus on expanding access to concessional finance, enhancing transparency, and ensuring a more equitable structure for developing countries. Discussions also covered UK support for Egypt's green investment agenda, particularly under the NWFE Platform (linking water, food, and energy projects), and financing from institutions such as British International Investment (BII) and UK Export Finance (UKEF). The ministers reviewed the UK's role in global climate financing through the Green Climate Fund (GCF) and Climate Investment Funds (CIF). The UK is one of the largest foreign investors in Egypt, particularly in energy, telecoms, pharmaceuticals, and consumer goods. Both ministers underscored the role of the British Egyptian Business Association (BEBA) and the Egyptian British Chamber of Commerce (EBCC) in supporting private sector engagement and trade promotion. Chapman also commended Egypt's role in facilitating humanitarian aid to Gaza and reiterated the UK's support for efforts to achieve a sustainable ceasefire and ensure safe and consistent delivery of aid. Attribution: Amwal Al Ghad English
