- Talks address potential new Pakistani investments in textiles and ready-made garments, batteries, electric motorcycles, and mobile phones
- Pakistan seeks to benefit from Egyptian expertise in tourism, real estate development, infrastructure, and agricultural investment
In line with the directives of Dr. Mohamed Farid, Minister of Investment and Foreign Trade, to diversify sources of investment inflows, Dr. Mohamed Awad, CEO of the General Authority for Investment and Free Zones (GAFI), met with Mr. Aamir Shouket, Ambassador of Pakistan to Egypt, to discuss ways to strengthen bilateral investment cooperation.
The two sides agreed to organize a forum bringing together representatives of the business communities of both countries to identify their respective requirements and proposals for enhancing investment cooperation, explore the most promising investment opportunities across sectors of mutual interest, and facilitate the establishment of investment partnerships, particularly between startups and entrepreneurs from both sides.
Dr. Mohamed Awad underscored the importance of leveraging the political convergence and longstanding historical ties between the two countries to elevate bilateral investment relations to higher levels. He noted that GAFI is committed to providing all forms of support to Pakistani investments in Egypt and addressing any obstacles they may face.
GAFI CEO said that leading Egyptian companies are interested in establishing investment partnerships with the Pakistani business community in sectors where Pakistan has strong technological capabilities, including textiles and ready-made garments, electric batteries, and means of transportation.
On his part, H.E. Ambassador Aamir Shouket said that Pakistani investors who have invested in Egypt in recent years are currently seeking to expand their investments, noting growing Pakistani interest in injecting new investments into the textile and mobile phone sectors, in addition to transferring the entire production chain for electric motorcycles to Egypt—from battery manufacturing and motorcycle frame production to operating software and, ultimately, battery recycling.
The Pakistani Ambassador said that Egypt's position as Africa's leading recipient of foreign direct investment (FDI) for many years has encouraged Asian countries to establish investment partnerships with their Egyptian counterparts, initially targeting the domestic market and subsequently expanding into other African markets. This would enable both sides to capitalize on the African Continental Free Trade Area (AfCFTA), which connects Egypt with the continent that has the world's fastest-growing economy.
H.E. Ambassador Aamir Shouket added that the Pakistani side seeks to benefit from Egyptian expertise in tourism, real estate development, infrastructure, and agricultural investment—sectors in which Egypt has made significant advances in recent years and accumulated substantial expertise that could be leveraged by the Pakistani economy.
