Egypt is seeking to attract greater Italian investment as the country looks to strengthen economic and trade cooperation with Italy, with textiles, machinery and manufacturing among the sectors offering opportunities for closer collaboration.
Egyptian Minister of Supply and Internal Trade Ali El-Moselhy said the ministry aims to make it easier for Italian companies to enter the Egyptian market, highlighting the government’s willingness to support foreign investment.
El-Moselhy made the remarks during the Italian Egyptian Economic Forum (Investment in Trade) held in Cairo, where representatives discussed opportunities to expand investment and commercial relations between Egypt and Italy.
Egypt Targets Stronger Italian Investment
According to El-Moselhy, Egypt is working to create conditions that encourage international companies, including Italian businesses, to invest and expand their activities in the country.
The minister also pointed to economic conditions and political support for foreign investment as factors that could help facilitate greater Italian participation in the Egyptian market.
Strengthening international investment has become an important component of Egypt’s broader industrial development strategy, particularly as the country seeks to expand domestic manufacturing and develop export-oriented industries.
Textile and Machinery Sectors Offer Cooperation Opportunities
Textiles and machinery were highlighted among the industries with significant potential for cooperation between Egyptian and Italian companies.
Italian Ambassador to Egypt Giampaolo Cantini said Egypt’s private sector has a strong appreciation for Italian manufacturing capabilities, machinery, textile expertise and the country’s industrial know-how.
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Italy has long maintained a strong international position in textile machinery and advanced manufacturing technologies, making cooperation in these areas particularly relevant to Egypt’s efforts to modernize and expand its industrial base.
Greater collaboration could provide Egyptian manufacturers with access to technology and industrial expertise while creating new opportunities for Italian companies seeking to develop their presence in the Egyptian and regional markets.
Italian-Egyptian Economic Cooperation Expands
The Italian Egyptian Economic Forum was organized by the Italian Confederation for Economic Development (CISE) as part of efforts to strengthen commercial and investment ties between the two countries.
According to Egyptian media reports, the next edition of the conference is scheduled to take place in Naples, Italy, with a focus on further developing bilateral trade relations.
CISE President Giuseppe Romano said initial concrete results from the cooperation are already emerging, including agreements involving Italian special economic zones and cooperation with economic zones connected to Egypt.
The initiatives are expected to create additional opportunities for companies from both countries to establish partnerships and explore investment projects.
Egypt Looks to Expand Its Manufacturing Base
Closer economic cooperation with Italy could support Egypt’s ambitions to strengthen its manufacturing sector, particularly in industries such as textiles, garments and industrial machinery.
For Italian textile machinery manufacturers and technology providers, Egypt also represents a strategically positioned manufacturing market with access to markets across Africa, the Middle East and the Mediterranean region.
As bilateral economic relations develop, textile manufacturing and machinery could become important areas for new Italian-Egyptian industrial partnerships, technology transfer and investment.
