Egypt’s Minister of Investment and Foreign Trade, Mohamed Farid, met on Sunday with Ambassador of the Republic of Belarus to Egypt, Evgeny Sobolevsky, and his accompanying delegation.
During the meeting, the two sides explored avenues for strengthening bilateral economic relations, expanding industrial co-operation, and addressing technical and regulatory challenges affecting trade between the two countries.
For his part, Minister Farid emphasized Egypt’s strategic priority of deepening local manufacturing and attracting value-added industrial investments, in line with the state’s efforts to enhance the competitiveness of the national economy.
He reaffirmed the government’s commitment to the localization of technology that generates added value, and highlighted the importance of advancing co-operation in the production and assembly of heavy equipment, including tractors, trucks, and buses, while ensuring an enabling environment for investment.
The discussions reviewed the performance of existing assembly lines, which have achieved local component integration of up to 45 per cent, the ministry said in a statement.
Both sides examined ways to support their continued operation and address current operational challenges.
The Belarusian side underscored the need for supportive mechanisms to ensure sustainability, including the possibility of securing guaranteed purchase arrangements for part of the output to enhance economic viability.
Minister Farid noted that market efficiency and profitability remain essential prerequisites for the sustainability of any industrial project.
He reiterated the state’s openness to considering support for strategic industries, provided this is undertaken within a framework of governance, transparency, and clear economic rationale.
The meeting also addressed opportunities to expand Belarusian exports to the Egyptian market, particularly in the food sector, including dairy products such as powdered milk and butter, as well as baby food products, subject to review of relevant Egyptian import requirements.
Ambassador Sobolevsky described the Egyptian market as a strategic gateway, expressing Belarus’s interest in establishing long-term industrial partnerships that extend beyond conventional trade exchange.
He further indicated Belarus’s willingness to support the development of production lines within Egypt.
Source: The Egyptian Gazette
