French Economy Minister: Full support for Egypt during the crisis in the global commodity market..photos

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Prime Minister Mostafa Madbouly received today Bruno Le Maire, French Minister of Economy, Finance and Economic Revival, and his accompanying delegation, in the presence of Eng. Finance, Lieutenant-General Kamel Al-Wazir, Minister of Transport, Nevin Gamea, Minister of Trade and Industry, Ambassador Ihab Nasr, Assistant Minister of Foreign Affairs for European Affairs, and a number of representatives of the concerned authorities.

At the beginning of the meeting, the Prime Minister welcomed the visit of the French Minister of Economy, Finance and Economic Revival, and his accompanying delegation, praising Egypt and France’s ties of cooperation at all levels, as well as the distinguished relations that unite the leaderships of the two countries.

Dr. Mostafa Madbouly drew attention to his fruitful meeting with the heads and representatives of French companies from the French Employers Council (MEDEF) a few days ago, pointing to Egypt’s keenness to attract more investments by French companies, and his personal keenness to overcome any problems that may face French investments, pointing out in this context To the final settlement agreement that was signed with the French company Vica, one of the shareholders in the Sinai Cement Company.

The Prime Minister stressed that Egypt and France share visions and fears of the repercussions of the Russian-Ukrainian crisis, stressing that the longer the crisis continues, the more dire consequences it will have on the global economy, pointing out that Egypt is counting on its strategic relations with France in order to secure some supplies of basic commodities such as wheat, if The crisis has dragged on.

In the same context, Dr. Mostafa Madbouly addressed a number of cooperation files that are of interest to both sides in the coming period, noting that with regard to cooperation in the field of green hydrogen, the Egyptian government approved this month a package of incentives for investment projects in the electricity and renewable energy sector, including These include projects for the production, storage and export of green hydrogen and green ammonia. There are already serious consultations in this field with French companies in order to turn Egypt into a regional center for hydrogen, which can be built on and expanded in the coming period.

The Prime Minister added that with regard to the field of manufacturing electric cars, the government also approved in early March the “National Strategy for the Development of the Automotive Industry”, which includes a variety of incentives for the automobile feeding industries, and the localization of the electric car industry.

For his part, Bruno Le Maire, Minister of Economy, Finance and Economic Revival of the French Republic, expressed his happiness to meet with President Abdel Fattah El-Sisi this morning, describing the meeting as fruitful and supportive of the distinguished relations of cooperation between the two countries.

The French Minister of Economy, Finance and Economic Revival also thanked the Egyptian government for its appreciated efforts in solving the problems facing French companies, pointing out that this represents conclusive evidence of Egypt’s keenness to push bilateral relations to more cooperation, and to overcome any obstacles that might face these relations.

Le Maire pointed to the difficult moments that the world is going through now as a result of the Russian-Ukrainian crisis, and its dire consequences on the economic and social aspects, noting that the neediest classes are the most affected by the waves of global price hikes.

The French Minister of Economy, Finance and Economic Revival praised the ongoing cooperation path between Egypt and the International Monetary Fund, in order to maximize the benefit from the support provided by the Fund to countries in these circumstances, expressing his government’s support for the course of this cooperation in a way that supports enhancing Egyptian benefit from the Fund’s programs.

Le Maire affirmed his country’s full support for Egypt during the economic crisis facing the world, especially with regard to the global commodity market, as France produces about 35 million tons of wheat annually, and exports about 17 to 18 million tons of wheat, expressing France’s readiness to cooperate. with Egypt in this field.

He also valued the continuous cooperation between the governments of the two countries in the field of transportation, noting that a memorandum of understanding was signed today regarding railway systems, railway works, and the manufacture and supply of mobile units for the Line Six project of the Greater Cairo Metro with a French alliance led by the French company “Alstom”, as well as Signing a financing agreement between the Arab Republic of Egypt and the Republic of France, regarding the financing of a project to manufacture and supply 55 air-conditioned trains for the first metro line.

The French minister called for expanding the scope of Egyptian-French relations and areas of strategic cooperation in various fields, especially since France sees Egypt as a pivotal country in Africa, adding that with regard to cooperation in the field of green hydrogen, his country possesses multiple levels of technology, knowledge, experience and capabilities in this field that can support presented to Egypt.

For his part, Eng. Tarek El-Molla, Minister of Petroleum and Mineral Resources, indicated that Egypt has worked hard within the framework of the East Mediterranean Gas Forum, and transformed into a regional energy center, in order to become a reliable supplier of energy, and indicated Egypt’s readiness to cooperate with the French side, reviewing in this regard. Gas supply mechanisms according to short and long-term contracts, available quantities according to different times of the year, and the position of supplies to the European Union.

For his part, Minister of Supply and Internal Trade Dr. Ali Al-Moselhi reviewed the existing areas of cooperation with France and the developments of cooperation with the French Development Agency, in the field of wholesale markets to improve food security, and the establishment of a joint Egyptian-French company to manage the wholesale market.French Prime Minister and Minister of Economy and Finance (6)


French Prime Minister and Minister of Economy and Finance (6)

French Prime Minister and Minister of Economy and Finance (7)
French Prime Minister and Minister of Economy and Finance (7)

French Prime Minister and Minister of Economy and Finance (1)
French Prime Minister and Minister of Economy and Finance (1)

French Prime Minister and Minister of Economy and Finance (2)
French Prime Minister and Minister of Economy and Finance (2)

French Prime Minister and Minister of Economy and Finance (3)
French Prime Minister and Minister of Economy and Finance (3)

French Prime Minister and Minister of Economy and Finance (4)
French Prime Minister and Minister of Economy and Finance (4)

French Prime Minister and Minister of Economy and Finance (5)
French Prime Minister and Minister of Economy and Finance (5)





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