Minister of Investment and Foreign Trade Hassan El-Khatib held a meeting with British Ambassador to Cairo Mark Bryson-Richardson to discuss ways to enhance the strategic partnership between Egypt and the United Kingdom. The talks reviewed the progress achieved in implementing economic reforms aimed at attracting investment and expanding the role of the private sector in Egypt's economy. They also covered ongoing preparations for the Egypt–UK Investment Conference, scheduled to take place in December. El-Khatib highlighted that the Egyptian government has achieved a significant transformation in macroeconomic policy over the past fifteen months, encompassing monetary, fiscal, and trade policies, as well as redefining the role of the state in the economy. Addressing inflation, he noted that the rate has fallen to around 12%, reflecting the success of recent policies in maintaining price stability despite global challenges. The Minister added that structural reforms in the subsidy system are underway to ensure its financial sustainability and better direct support to those most in need. El-Khatib also reaffirmed the government's target to position Egypt among the top 50 countries in global trade competitiveness indicators. He revealed that reforms have led to a 63% reduction in customs clearance time within a single year – from 16 days to about 5.8 days – alongside an ongoing plan to remove non-tariff barriers and enhance the efficiency of the foreign trade system. He added that a new, comprehensive trade policy is being developed to promote openness, competitiveness, and stronger regional partnerships, particularly with African countries. The government, he stressed, remains committed to avoiding any increases in customs duties to prevent additional inflationary pressures – reaffirming Egypt's adherence to global trade rules and its support for the free movement of goods and services. The Minister noted that the trade deficit has fallen to its lowest level since 2010, reaching around $30bn, down from $50bn – a result of the ongoing structural reforms in trade and industry. El-Khatib emphasised that Egypt now stands before a "golden opportunity" to build on its strategic location and advanced infrastructure, positioning itself as a regional hub for manufacturing and exports. He added that the government aims to double foreign direct investment in the near term through a comprehensive package of legislative and procedural reforms. He also underlined that digital transformation is a cornerstone of Egypt's efforts to improve the business environment. The Ministry has launched more than 460 digital services and permits through a unified platform that enables licence issuance within 20 days, and integrated 96 government entities into a single electronic system allowing investors to interact digitally with the Ministry of Finance. El-Khatib reaffirmed Egypt's commitment to building deeper economic partnerships with friendly nations – foremost among them the United Kingdom. He said the upcoming Investment Conference will serve as a key platform to showcase Egypt's reform progress, ongoing initiatives, and promising investment opportunities across various sectors. For his part, Ambassador Bryson-Richardson commended Egypt's economic and structural reforms, describing them as a clear demonstration of the government's commitment to stability and a more attractive investment climate. He noted the importance of increasing awareness within the British business community about Egypt's positive developments. The Ambassador added that the Egypt–UK Investment Conference, to be held on 8 December, represents an important opportunity to highlight Egypt's reform achievements and success stories. He reaffirmed the United Kingdom's readiness to expand technical and institutional cooperation, particularly in customs modernisation, financial technology, and renewable energy, in line with Egypt's priorities. Bryson-Richardson stressed that the UK remains a strategic partner for Egypt and will continue to support its efforts to enhance competitiveness and attract investments. He pointed out that promising opportunities exist to finance British exports through the UK Export Finance programme, alongside new projects in agriculture and trade aimed at doubling bilateral trade in the near future.
