Dr. Rania Al-Mashat:
The Egyptian-Swiss Committee is a platform to advance economic, trade, and investment relations between the two countries.
The Joint Committee discusses the development of cooperation aspects and explores the enhancement of partnership between the private sectors of both countries and the discussion of the joint cooperation program 2025/2028.
The Egyptian delegation highlights national efforts to improve the investment climate and strengthen macroeconomic stability through the National Structural Reform Program.
The Ministry of Planning, Economic Development and International Cooperation chaired the technical-level meeting of the first Egyptian-Swiss Joint Economic Committee in the Swiss capital, Bern. The meeting saw participation from the Ministries of Foreign Affairs, Finance, Investment and Foreign Trade, and Labor, as well as the Central Bank, business community representatives, and private sector companies from both Egypt and Switzerland.
The meeting followed the signing of the Egyptian-Swiss Joint Economic Committee agreement between the Arab Republic of Egypt and the Swiss Confederation, signed by H.E. Dr. Rania A. Al-Mashat, Minister of Planning, Economic Development and International Cooperation, and H.E. Ms. Helene Budliger, Swiss Director of the State Secretariat for Economic Affairs, during the World Economic Forum in Davos last January.
H.E. Dr. Rania Al-Mashat emphasized that the committee’s convening reflects the two countries’ commitment to strengthening their economic, trade, and investment ties and move them to broader horizons, exploring new opportunities for market access, resolving challenges to advance bilateral economic relations.
H.E. Minister Al-Mashat also noted the importance of evaluating and updating existing economic agreements and working to improve their implementation in line with the needs and interests of both parties. She added that the Joint Economic Committee is an effective platform for advancing and developing relations between the two countries and opening up investment fields.
H.E. Dr. Al-Mashat affirmed that Egyptian-Swiss relations have significantly evolved in recent years. Egypt is currently Switzerland’s largest trading partner in Africa, with over 100 Swiss companies directly investing in Egypt across sectors such as pharmaceuticals, food and beverage, logistics, and more. She highlighted Egypt’s keenness to expand these relations and explore further areas of cooperation.
The Egyptian-Swiss Economic Committee touched on ways to deepen bilateral relations and reviewed the current global economic developments. The Egyptian delegation referred to the state’s endeavors to implement the National Structural Reform Program, enhance macroeconomic stability, and pursue predictable fiscal and monetary policies.
Discussions also outlined the outcomes of Egypt’s economic and structural reform efforts, the results of the fourth review of Egypt’s joint program with the International Monetary Fund (IMF), as well as the development of trade and investment relations. This is in light of Egypt’s benefit from the African Continental Free Trade Agreement and the European Free Trade Agreement. In a related context, the committee discussed multilateral trade relations and the priorities of Egypt and Switzerland within the framework of the World Trade Organization.
The Egyptian delegation affirmed the state’s ongoing efforts to foster a favorable investment environment, improve the business climate, ensure fair competition, and open more space for private sector participation. They also pointed out Egypt’s commitment to attracting both domestic and foreign investment, implementing the State Ownership Policy Document, which governs state involvement in certain economic activities, and promoting private sector empowerment.
At the conclusion of the meeting, both sides agreed to continue dialogue and coordination to facilitate investments, support the implementation of the new Swiss cooperation program in Egypt, align with Egypt’s Vision 2030, and boost joint efforts to invest in human capital and achieve sustainable economic development.
As part of the committee's activities, three meetings were held: a meeting with the Swiss Agency for Development and Cooperation to discuss preparations for the new cooperation program 2025-2028, as well as ongoing and future cooperation projects between the two sides; a meeting with the Swiss-African Business Chamber to discuss how to cooperate in Africa through Egypt and existing coordination with a number of Egyptian companies and the event scheduled to be held in June in Geneva with the participation of a large number of Swiss companies operating in Africa; and a meeting with the insurance company Swiss Re, where the scope of the company's work and proposals for cooperation with Egypt in the sectors of risk management and agriculture were reviewed.
It’s worth noting that Egyptian-Swiss relations span over 45 years. Since 1979, Switzerland has been a partner in development cooperation. Egyptian-Swiss relations in the field of investment and trade have developed significantly in recent years, with Egypt’s exports to Switzerland reaching $470 million in 2023, Swiss exports to Egypt hitting $1 billion, and over 82,000 Swiss tourists visiting Egypt.