Dr. Badr Abdel Aaty, Egypt’s Minister of Foreign Affairs, Migration and Egyptian Expatriates Affairs, began his visit to Paris on Thursday by holding a meeting with representatives of major French companies and investment funds at the headquarters of the French Employers’ Association MEDEF. This meeting was part of efforts to boost economic development, strengthen economic relations with France, and expand cooperation with the private sector by exploring new opportunities for joint collaboration in various fields.

During the meeting, Minister Abdel Aaty praised the remarkable development witnessed in Egyptian-French relations in recent years, culminating in elevating the relationship to a strategic partnership. He also highlighted the successes of French companies operating in Egypt, especially in national transport projects, expressing Egypt’s aspiration to attract more French investments. Egypt is considered the third largest destination for French investments in the Middle East, while France is the seventh largest foreign investor and the third largest European investor in the Egyptian market, with about 160 French companies currently operating in Egypt.

The Foreign Minister also welcomed the outcomes of the recent economic forum held in May under the auspices of the Egyptian President and the French President. He highlighted the promising opportunities available to French companies, particularly in the Suez Canal Economic Zone, in addition to Egypt’s significant potential in renewable energy, green hydrogen production, transport, ports, automotive industry, telecommunications, digitization, and artificial intelligence. He expressed anticipation for the first meeting of the joint industrial committee between the two countries.

Minister Abdel Aaty also reviewed the investment incentives provided by the Egyptian government and the efforts made in recent years to improve the business environment, outlining the wide-ranging economic reforms implemented during the past period.

An interactive discussion took place with representatives of French companies, exchanging views on the situation in the Middle East and ways to enhance economic cooperation between Egypt and France, increase French investments in Egypt, and emphasize the importance of continued coordination and communication to advance the economic partnership to broader horizons between the two countries.