Egypt Finance Minister Mohamed Maait said that access to international markets was becoming very difficult for the emerging economies while citing the strong historical ties between the Arab countries as a force to push for the development of regional economic cooperation.
“It is time to deepen Arab economic partnerships and achieve integration between the Arab brothers, so that we all have the ability to overcome the current global challenges,” FM Mohamed Maait said.
FM Mohamed Maait took note of the global economic crisis caused by COVID and the Ukraine war, as inflation has raised the overall prices, apart from affecting the energy trade and finance costs.
FM Mohamed Maait had a meeting with the head of the Omani Muscat Stock Exchange. In the presence of Egyptian Exchange head Ramy Al-Dakani, the Finance Minister said that Egypt has opened “its doors to the Arab brothers with a more attractive climate for investment based on a strong infrastructure network capable of accommodating production and development expansions.”
“We have promising investment opportunities in various sectors, especially in the green transformation projects; In line with the Egyptian presidency of the Climate Summit, whose organization in Sharm El-Sheikh won wide international acclaim,” FM Mohamed Maait remarked.
“Egyptian economy has become more capable of flexibly dealing with external shocks, with the gains we have achieved through the economic reform program, which gave us a financial space and our position to take proactive measures that enhance support for economic activity, in a way that contributes to the continuation of the production cycle, along with the expansion of the social protection umbrella for the neediest groups in order to mitigate the inflationary wave imported on citizens as much as possible,” FM Mohamed Maait added further.
FM Mohamed Maait indicated that Egypt was looking forward to increasing Omani investments within its territories, apart from enhancing trade exchange between the nations.