Visit by Egyptian Minister of Investment and International Cooperation Sahar Nasr to Bern
Bern, 15.11.2019 - On 15 November, Federal Councillor Guy Parmelin, head of the Federal Department of Economic Affairs, Education and Research (EAER), received Sahar Nasr, Minister of Investment and International Cooperation of the Arab Republic of Egypt for a bilateral meeting in Bern. The talks focused on developing bilateral economic relations and Switzerland’s cooperation programme in Egypt.
The meeting between Federal Councillor Guy Parmelin and Minister Sahar Nasr provided an opportunity to review bilateral economic relations between Switzerland and Egypt. The two ministers welcomed the encouraging results of the Swiss cooperation programme in Egypt and also discussed the general conditions for investment and business opportunities for the Swiss private sector.
Switzerland is a major investor in Egypt, where around seventy Swiss companies are established. In 2018, Egypt was Switzerland's leading export market on the African continent, with exports valued at CHF 972 million. With a free trade agreement (via the European Free Trade Association), an agreement on the promotion and reciprocal protection of investments and a double taxation convention, economic relations between Switzerland and Egypt are conducted within a solid bilateral legal framework.
Egypt has been a priority country for the State Secretariat for Economic Affairs (SECO) in terms of economic cooperation and development for 40 years. SECO's projects place particular emphasis on basic infrastructure, urban development, creating more and better jobs, financial services and governance conducive to private sector development. SECO's support is part of the Federal Council's North Africa Programme of 11 March 2011, implemented jointly by the Swiss Agency for Development and Cooperation (SDC), the Political Directorate of the FDFA, the Human Security Division (HSD) and the State Secretariat for Migration (SEM).
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