Egypt is accelerating efforts to expand trade with Africa and strengthen its investment climate, Investment and International Trade Minister Hassan El-Khatib said at the LYNX Forum on Wednesday. Speaking at the event, El-Khatib outlined government strategies to boost exports, enhance competitiveness, and attract investment across key sectors. "Over the past years, Egypt has built the foundation for a more competitive economy," El-Khatib said, noting stable and transparent policies that give investors clarity and confidence. He highlighted macroeconomic gains, including inflation falling to 11.6 per cent in June 2025, foreign reserves rising to $50 billion, and net foreign assets shifting from negative to a surplus exceeding $10 billion. Fiscal reforms increased tax revenues by 35 per cent last year without new burdens on businesses. On trade, El-Khatib said reforms cut customs clearance time and costs by 65 per cent, with plans to reach 90 per cent efficiency, and eliminated non-tariff barriers, saving the economy more than $1.5 billion this year. The minister emphasised the push towards digital transformation of investment and trade services, including a unified platform to streamline business registration, licensing, payments, and customs procedures. Assistant Minister Mohamed El Gawsaqi detailed efforts to deepen African trade through the African Continental Free Trade Area (AfCFTA), COMESA, expanded trade offices, and logistics hubs for maritime and land connectivity. He said the ministry is prioritising trade with select African countries based on competitive advantages and improving financial support, trade missions, and permanent exhibitions. Attribution: Amwal Al Ghad English
