Both Ministers Affirm Deep Egyptian-Swiss Relations, Discuss Outcomes of First Joint Economic Committee Session, and Preparations for 2025/2028 Country Cooperation Program

Al-Mashat Invites Swiss Companies to Benefit from European Investment Guarantees Mechanism to Increase Investments in Egypt

H.E. Dr. Rania A. Al-Mashat, Minister of Planning, Economic Development and International Cooperation, met with H.E. Helene Budliger Artieda, Swiss State Secretary for Economic Affairs, to discuss strengthening Egyptian-Swiss relations and the development of the partnership between the two countries. 

This meeting took place during Dr. Al-Mashat's participation in the First Global Ministerial Conference on Small and Medium-sized Enterprises (SMEs), organized by the United Nations International Trade Centre (ITC), held concurrently with South Africa's G20 presidency.

During the meeting, H.E. Dr. Rania Al-Mashat emphasized the depth of Egyptian-Swiss relations and the importance of economic cooperation between the two countries. 

She highlighted the Egyptian government's keenness to strengthen this partnership and elevate it to broader horizons, serving the national development agenda and enhancing the implementation of development priorities across various fields. 

H.E. Dr. Al-Mashat also noted the significance of programs implemented within the framework of the partnership with the Swiss side and the role of development cooperation in bolstering green transformation efforts and empowering the private sector in Egypt.

H.E. Minister Al-Mashat outlined that cooperation between Egypt and Switzerland extends to include funding development projects implemented through civil society organizations and the private sector, as well as programs carried out by international financial institutions and UN agencies in Egypt. 

H.E. Dr. Al-Mashat affirmed that this diversity in funding channels reflects the Swiss side's interest in supporting comprehensive and sustainable development through multilateral and multisectoral partners.

H.E. Dr. Al-Mashat also touched upon the new Country Program for the period 2025-2028. She highlighted that the recent period witnessed several coordination and technical meetings between the Ministry of Planning, Economic Development and International Cooperation and the Swiss Agency for Development and Cooperation (SDC). 

These meetings were held in preparation for drafting and finalizing the new Country Program for the period from 2025 to 2028, which is expected to be completed soon. She added that the program focuses on several key priority areas for both countries.

The two sides discussed the first session of the Joint Egyptian-Swiss Economic Committee, held last May. This session marked a significant step towards strengthening the economic partnership between the two countries, providing an effective institutional dialogue platform to review the course of bilateral cooperation, assess ongoing projects, and explore new areas of cooperation that enhance shared interests.

Al-Mashat mentioned that the first session of the committee provided an opportunity to exchange views on relevant economic policies, explore opportunities to boost trade and investment, and expand technical and financial cooperation in light of Egypt's national development priorities and Switzerland's strategy for international cooperation. She expressed her anticipation for the ministerial meeting of the Joint Egyptian-Swiss Economic Committee.

The Minister of Planning, Economic Development and International Cooperation reviewed developments in the Egyptian economy and the reforms implemented by the government to increase efforts in attracting foreign investment and enhancing macroeconomic stability. 

H.E. Dr. Al-Mashat invited Swiss companies to explore these reforms and increase their investments in Egypt, especially with the activation of the investment guarantee mechanism with the European Union, which provides guarantees for European companies through international and European financial institutions to boost their investments. 

H.E. Dr. Al-Mashat also discussed developments in partnership with international financial institutions, particularly the development cooperation portfolio with the European Bank for Reconstruction and Development (EBRD).

For her part, the Swiss State Secretary for Economic Affairs praised the economic relations between the two countries, which serve shared development priorities. 

She also lauded the positive developments in the Egyptian economy, highlighting the upcoming opening of the Grand Egyptian Museum (GEM) and its importance in boosting tourism activity. 

In this regard, Dr. Rania Al-Mashat extended an invitation to the Swiss State Secretary for Economic Affairs to participate in the opening ceremonies of the Grand Egyptian Museum.