Egypt's potential as a regional grain hub for Ukrainian exports to Africa took centre stage in a Monday meeting between Egyptian Minister of Planning, Economic Development, and International Cooperation, Rania Al-Mashat, and Ukrainian Minister of Agricultural Policy and Food, Vitaly Kovaly. The two ministers discussed strengthening bilateral relations, focusing on trade, investment, and logistical partnerships, particularly in the agricultural sector. "The presence of silos in the region could serve as a hub for storing Ukrainian grain and re-exporting it to neighbouring countries, especially those in Africa," Al-Mashat said, highlighting the Suez Canal Economic Zone's strategic location and logistical advantages. Al-Mashat also noted Egypt's ongoing expansion of its silo infrastructure, including the 2021 inauguration of the West Port Said Port silo, which strengthens the country's capacity to serve as a key grain storage and export centre. Kovaly expressed strong interest in this partnership, stating, "We look forward to a close partnership with Egypt to enhance our exports to Africa." He indicated his interest in visiting the Suez Canal Economic Zone and further developing business collaborations. He emphasized the importance of agriculture to Ukraine's economy, which contributes 59% of its foreign exchange earnings, with agricultural exports totalling $24.6 billion and providing millions of jobs. He noted the growth potential for trade with Egypt, citing a 32% increase in Ukrainian agricultural exports to Egypt last year, reaching $1.4bn, while total agricultural exports to Africa reached $2.6bn. Al-Mashat reiterated Egypt's commitment to broader cooperation with Ukraine, including increased trade, attracting Ukrainian investment to Egypt, and facilitating Egyptian investments in Ukraine. She highlighted the role of the Egyptian-Ukrainian Joint Committee for Economic, Scientific, and Technical Cooperation in driving these efforts. Al-Mashat noted that the committee streamlines trade, strengthens private sector connections, and fosters investment in priority areas. She co-chaired the committee's eighth session with Ukraine's First Deputy Prime Minister and Minister of Economy, where agreements on standardization and space cooperation were signed. Al-Mashat also emphasized Egypt's focus on industrial development and suggested potential collaborations with Ukraine in agricultural technology, including seed production, farming practices, and food processing. She noted that Egypt's strong relationships with development partners, like the European Union and the European Bank for Reconstruction and Development, could further support bilateral cooperation. Tourism, another key area of collaboration, was also discussed.
