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Egypt & Singapore forge stronger economic ties with enhanced cooperation pact

Egypt's Minister of Foreign Affairs, Sameh Shoukry emphasized Egypt's position against the deteriorating humanitarian situation in Gaza

Egypt’s Minister of Foreign Affairs, Sameh Shoukry, recently hosted the Foreign Minister of Singapore, Vivian Balakrishnan, during his official visit to Egypt on March 22nd and 23rd.

The two ministers discussed the strong bilateral relations between Egypt and Singapore, which have experienced significant growth in recent years. They emphasised the importance of maintaining this positive trajectory, highlighting the deep-rooted historical connections between their two nations.

Minister Shoukry affirmed Egypt’s commitment to facilitating investment opportunities for Singaporean businesses, particularly in crucial projects such as the Suez Canal Development Corridor. This initiative offers extensive prospects for investment in areas such as logistics, port management, and transit trade, where Singapore has significant advantages.

During a meeting, the Singaporean Foreign Minister praised the collaborative efforts with Egypt and expressed Singapore’s eagerness to strengthen bilateral trade and investment in Egypt. The potential for expanding economic cooperation to benefit both nations was stressed, with renewable energy, agriculture, and tourism cited as promising sectors for collaboration. The establishment of a joint business council to support cooperation between private sector representatives from both countries was also discussed.

In addition, the ministers discussed regional and international matters of mutual concern, including the persisting conflict in the Gaza Strip. Both parties explored ways to advance ceasefire initiatives to achieve a lasting cessation of hostilities. The Singaporean minister showed a particular interest in Egypt’s perspective on the evolving Gaza situation, highlighting the humanitarian challenges faced by its residents and Egypt’s mediation efforts to facilitate humanitarian aid access and broker a ceasefire.

Minister Shoukry emphasised Egypt’s position against the deteriorating humanitarian situation in Gaza. He firmly rejected any attempts to forcibly displace Gaza’s population, undermine the Palestinian cause, or invade the city of Rafah.

Additionally, they discussed the impact of the ongoing crisis on Red Sea security, which poses significant threats to international navigation and shipping. Both ministers agreed on the urgent need to address these challenges, recognising their potential adverse effects on Egypt’s economy, regional stability, and the global economy as a whole.

The Singaporean Foreign Minister stressed the critical importance of ensuring safe and sustainable navigation in the Suez Canal, as it serves as a crucial conduit for Singapore’s trade with Europe.

Finally, both ministers stressed the importance of maintaining open communication to monitor bilateral cooperation initiatives and proposals. They also agreed on the necessity of intensifying consultations on regional and international issues of mutual interest.

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