Trade minister re-forms Egyptian side of Egyptian-Spanish Business Council

MENA , Monday 8 Aug 2022

Trade and Industry Minister Nevin Gamea announced on Monday the decision to reconstitute the Egyptian side of the Egyptian-Spanish Business Council, to be headed by Maged El-Menshawy, the chairman of the board of directors of MINAPHARM Pharmaceuticals.

Nevin Gamea
File photo: Trade and Industry Minister Nevin Gamea. Photo: Ministry of Trade and Industry official facebook page

 

As per a ministerial decree, the term of members representing the Egyptian side in the council is three years. The Egyptian side is obliged to submit a semi-annual report to the trade and industry minister on its activities, efforts, and suggestions to develop economic relations with Spain, the decree said.

The Egyptian concerned authorities, embassies, and commercial offices should assist the council in performing its duties, according to the decision.

Gamea said that the volume of trade exchange between Egypt and Spain jumped 29% to reach USD 2.851 billion in 2021 compared with USD 2.211 billion in 2020.

The minister noted that the new members representing the Egyptian side include cadres and experts in economic cooperation with Spain, pointing to high-level visits between both sides in the past period, the last of which was a trip by Spanish Prime Minister Pedro Sanchez to Egypt in December 2021.

During his visit and the first by a Spanish PM to Egypt since 2010, Sanchez held meetings with a host of Egyptian officials, including Egyptian President Abdel-Fattah El-Sisi.

Both leaders discussed increasing trade exchange and Spanish tourism to Egypt. They also agreed to form a joint high committee to boost bilateral relations.

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