The Ambassador of the Republic of Indonesia to Egypt, held a meeting with the Assistant Minister of Trade and Industry of Egypt to discuss plans for the establishment of a Joint Trade Committee (JTC). Both nations are committed to promoting ease of doing business, investment, and trade regulation mechanisms. This includes exploring opportunities for Indonesia-Egypt joint ventures within the Suez Canal Economic Zone (SCEZ) and exploring the path towards a Free Trade Agreement between Indonesia and Egypt. As anticipated by the Minister of Trade of the Republic of Indonesia, major business players from Egypt will have the opportunity to engage in direct business meetings with Indonesian counterparts to discuss the enhancement of bilateral exports and investments. Assistant Minister of Trade and Industry, warmly welcomed the invitation and aspirations of the Indonesian Ambassador to Egypt. He confirmed that an official visit by the Ministry of Trade and Industry of Egypt to Indonesia is scheduled for the year 2023, and he also extended an invitation to Indonesian business stakeholders to consider investment opportunities in Egypt and take advantage of the favourable business environment in Egypt, including opportunities within the Suez Canal Economic Zone (SCEZ). He expressed appreciation for the trade reciprocity scheme that has been initiated by both nations.
The Egyptian government fully supports this reciprocity of trade transactions between Indonesia and Egypt due to the numerous benefits it offers to the trade interests of both nations. Egypt, in particular, requires a variety of supportive industrial products to meet the demands of its largest consumer base in Africa, and to cater to regional markets in the Middle East and Europe. Indonesia has been a strategic partner for Egypt in fulfilling these needs. Given that Egypt holds the largest consumer base in Africa, and to meet the market demands across the African region, Middle East, and Europe, Egypt requires supportive industrial products. Indonesia has long served as a strategic partner to fulfil Egypt's needs. It is hoped that the intensity of collaboration in the economic and trade domains, as well as business-to-business interactions, between Indonesia and Egypt will continue to flourish.
