Egyptian Minister of Investment and Foreign Trade, Mohamed Farid, stated that Egypt and the United Kingdom have “deep historical and economic ties” and are collaborating to enhance their strategic partnership and investment in the green economy.
By 2025, trade between the two countries reached around £2.8 billion, comprising £1.5 billion of Egyptian exports and £1.3 billion of United Kingdom exports. The United Kingdom is the second largest foreign investor in the Egyptian market, Mohamed Farid added.
Rachel Kyte, Catherine Carr and investment experts, international partners and start-up founders in climate-aligned sectors also attended the event.
Mohamed Farid emphasised that climate finance has shifted from an environmental commitment to an economic competition as the world moves quickly toward a green economy. This aligns with Egypt’s efforts to improve the competitiveness of its business environment to attract climate-related investment and financing, and to prepare Egyptian exports to access more global markets amid emerging carbon border adjustment mechanisms.
The minister also stressed the need for green investments and climate financing to be integrated into the annual plan of the government to maximise the opportunities associated with the transition to a low-carbon economy.
In a similar vein, Farid highlighted that there are ongoing discussions to facilitate access to global markets for Egyptian exports, including carbon border measures, and to align Egyptian industry with these standards to protect the market share and increase export capacity.
He emphasised that the goal is to raise the share of renewable energy in the electricity mix to 42% by 2030. This target can only be achieved through concerted action by national stakeholders and by building human capital to ensure Egypt has a seat at the table in global carbon markets.
Farid also emphasised that regulatory and supervisory frameworks must be developed to keep pace with the changing nature of climate finance. An effective system must adapt to diverse financial instruments and institutional capacities, using strong oversight methodologies to ensure climate commitments result in actual economic benefits for businesses and citizens alike.