Armenia and Egypt have agreed to boost the volumes of mutual trade. This was announced during a joint press conference with Armenian prime minister Nikol Pashinyan in Cairo on March 5 by Egyptian president Abdel Fattah al-Sisi.
"I am pleased to note that today's negotiations have confirmed the expectations of both countries for an increase in trade turnover volumes, as well as strengthening the investment factor between the two sides, which will correspond to the level of political relations between the two countries," said Abdel Fattah al-Sisi, as reported by the Armenian government's press service.
According to him, cooperation can develop in new areas, including information technology, artificial intelligence, food, and pharmaceutical industries.
"Also, during today's meetings, we confirmed readiness to exchange Egyptian experience in infrastructure, construction, transportation, and electricity production. Also, the experience of Armenia will be useful to us, especially those Armenian companies that stand out in the field of artificial intelligence," said the head of Egypt.
It is reported that the discussions particularly emphasized the need to use joint sessions of bilateral commissions in the field of economic and technical cooperation.
In turn, Armenian prime minister Nikol Pashinyan highlighted the growing interest of Egyptian investors in Armenia.
"Leaders and representatives of well-known Egyptian companies visited our country to familiarize themselves with investment opportunities. I hope that during the meetings with Egyptian businessmen as part of this visit, we will give an additional impetus to economic relations," said Pashinyan.
Currently, according to him, practical steps are being taken towards the development of trade and economic relations.
"This year, it is planned to hold another meeting of the intergovernmental joint commission between the Republic of Armenia and the Arab Republic of Egypt, within which a business forum will also be held. During the year, two more sectoral business forums are expected to be held. The Armenian government will encourage Armenian businessmen to participate in these forums, which will take place in Cairo," said Pashinyan.
The head of the Armenian government also noted that tourism is dynamically developing in bilateral relations. "Egypt has been one of the favorite holiday destinations for our citizens for many years, and the number of our tourists is significantly increasing every year," concluded Nikol Pashinyan.
