Egypt is looking to conclude a free trade agreement with Malaysia

The Egyptian Ministry of Finance said today, Saturday, that Egypt is discussing opportunities to conclude a free trade agreement with Malaysia to increase the volume of trade exchange between the two countries.

The ministry said in a statement that Egyptian Finance Minister Mohamed Maait met Malaysian Deputy Finance Minister Ahmed Maslan on the sidelines of their participation in the annual meetings of the Islamic Development Bank Group in Saudi Arabia.

The two sides discussed ways to enhance economic cooperation between the two countries, and the serious endeavor to double joint efforts and exchange constructive and diverse experiences between the governments of the two countries, and discussed opportunities for concluding a free trade agreement to facilitate the movement of import and export and increase trade exchange during the coming period between the two countries.

Maait said that Egypt is looking forward to concluding a joint agreement between the ministries of finance in the two countries to discuss public finance affairs, exchange experiences periodically, discuss economic conditions, discuss and study the double taxation agreement between the two countries and re-update it.

Maait stressed the need to double investments in the promising sectors of the two countries, including the oil and gas sector, medical equipment, communications and information technology, as well as the localization of the electric car industry, “by granting distinct incentives to develop this sector and encouraging the shift to the use of clean, environmentally friendly energy.”

For his part, the Malaysian Deputy Minister of Finance stated that his country “looks forward to joint cooperation in areas with a developmental dimension such as education, tourism, renewable energy and medical supplies.”

#Egypt