The UK and Egypt signed a Sustainable Cities and Infrastructure Memorandum of Understanding in Cairo yesterday to deepen cooperation in infrastructure development and grow the bilateral trading relationship.
The two countries already share a strong trading relationship: total trade in goods and services between the UK and Egypt was £4.8 billion in the 12 months to September 2023, of which total UK exports to Egypt amounted to £2.6 billion.
The Department for International Trade (DIT) said that the new infrastructure partnership between the UK and the Government of Egypt will boost cooperation in the development of sustainable cities and infrastructure in Egypt by establishing a joint working group that will meet twice a year in London and Cairo. The group will bring together government bodies and industry representatives from both countries to exchange technical knowledge, training, expertise and best practice in the prioritisation, financing, and management of infrastructure projects. Projects will be identified and delivered in accordance with international quality and sustainability standards, DIT said.
Britain's Ambassador to Egypt Gareth Bayley commented:
"This agreement reinforces our commitment to sustainable development, fostering economic growth, and attracting foreign investment into the Egyptian infrastructure sector.
It sets yet another example of a stronger and growing green partnership between both our countries, while boosting bilateral trade relations.
I am confident this collaboration will pave the way for a more sustainable and resilient future for Egypt."