Egypt's Prime Minister To QNA: Relations With Qatar See Further Cooperation, Harmony At All Levels

Doha, February 28 (QNA) - HE Prime Minister of the Arab Republic of Egypt Dr. Mostafa Kamal Madbouly said on Tuesday that bilateral relations between the State of Qatar and the Arab Republic of Egypt are witnessing further cooperation and harmony at all levels, culminating in a 2021 exchange of visits between both countries' leaders. In an interview with the Qatar News Agency (QNA), His Excellency congratulated the people and leadership of the State of Qatar on the successful FIFA World Cup Qatar 2022 hosting, pointing out that the achievement confirms Arab countries' potentials to organize major international events, and highlights their highly efficient, skilled and accurate human resources and cadres. Commenting on the Qatar-Egypt ties, His Excellency revealed his country's aspirations to develop bilateral cooperation and coordination in various fields, especially investment cooperation, and working to stimulate trade exchange in the interest of both brotherly peoples, noting that the visit of the ministerial delegation to the State of Qatar coincides with the recent positive development in relations between the two countries. His Excellency said that his visit included discussions with the Qatari side on a number of issues and topics that contribute to strengthening cooperation between the two countries in all fields. The discussions covered the positive developments in Egypt over the past few years, the national projects adopted by the state in the fields of clean and conventional energy, and the country's boom in transport and communications infrastructure and new smart cities, especially the new administrative capital, in cooperation with private sector companies, he added. The discussions also dealt with the most important features of the projects of the Suez Canal Economic Zone, the first phase of the proposals program, and the finalization of the state ownership document, which includes the activities and sectors from which the state will withdraw in accordance with international standards, His Excellency told QNA. His Excellency stressed that the volume of trade exchange between the two countries does not match the level that they aspire to reach, praising in this context the visit made by president and members of the Qatari Businessmen Association to Cairo in October 2022, and their meeting with HE President of the Arab Republic of Egypt Abdel Fattah El Sisi. This visit was an opportunity to enhance cooperation between the two countries, especially in the field of investment exchange, and work to activate the movement of trade exchange between them in the interest of the two brotherly peoples, His Excellency said, highlighting both sides' consensus on the need to increase the volume of trade exchange. The visiting Egyptian ministerial delegation to Qatar included ministers of finance, planning and economic development, health, trade and industry, and heads of the General Authority for Investment and the General Authority for the Suez Canal Economic Zone. HE Prime Minister highlighted the newly signed Double Taxation Agreement between the ministries of finance in both countries to avoid double taxation and fiscal evasion in a bid to enhance bilateral investment cooperation, as well as a number of memoranda of understanding (MoU) between Egypt's Ministry of Health and Population and Qatari companies to bolster bilateral cooperation in establishing, operating and developing medical facilities in Egypt. His Excellency highlighted the visit of HH the Amir Sheikh Tamim bin Hamad Al-Thani to Egypt in June, where His Highness was welcomed by HE President El Sisi. He noted that, during the visit, the two sides discussed strengthening bilateral relations, especially in the agricultural and energy sectors, as well as investment cooperation, and revitalizing trade exchange. HE President El Sisi attended the opening ceremony of the FIFA World Cup Qatar 2022 in November, before another Sep. 13 visit, ahead of the 31st Arab League summit in Algiers, His Excellency said, highlighting that the timing of the last visit bore significant indications. Relations between the two countries saw a remarkable development following the Al-Ula Declaration sealed in Jan. 2021, His Excellency said, alluding to an agreement reached at the conclusion of the 41st GCC Summit to end a four-year diplomatic crisis between Saudi Arabia, UAE, Bahrain and Egypt on one side and Qatar on the other side. Highlighting this development, His Excellency said that about 261 Qatari companies operate in Egypt, with a Qatari capital of USD 2.165 billion, including USD 249 million in the tourism sector, about USD 208 millions in the construction sector, and about USD 36 million in the industrial sector. In March 2022, Qatar announced pumping USD 5 billion investments in Egypt, on the sidelines of the visit of HE Deputy Prime Minister and Minister of Foreign Affairs Sheikh Mohammed bin Abdulrahman Al-Thani to Cairo. Egypt looks forward to developing bilateral cooperation between the two countries and coordination in various fields, especially investment cooperation, and working to stimulate trade exchange in the interest of the two brotherly peoples, he added. 

HE Prime Minister of the Arab Republic of Egypt Dr. Mostafa Kamal Madbouly stated that his country is working to create an attractive environment for investment, and to strengthen national industries in several priority sectors for the Egyptian state, in light of its steps to shift towards a green economy and sustainable development. The government is also working on improving the investment environment in Egypt, by introducing relevant legislative and regulatory procedures, in addition to the facilities and incentives it provides, such as the golden license whose objective is to attract more foreign investments to the country. Madbouly stressed that the Arab Republic of Egypt supports the private sector's participation in the national economy and aims to raise the percentage of private sector participation to 65 percent of total investments in the next few years, in addition to selling about 32 companies within the Initial Public Offering (IPO) program, as well as completing the State Ownership Policy Document, which includes the activities and sectors from which the state will disengage, in accordance with international standards. Discussing the repercussions of the Russian-Ukrainian crisis, the Egyptian economy's need of more investments, and the government's incentives to investors, HE Prime Minister said that the Russian-Ukrainian crisis affected the global economy including the Egyptian economy, indicating that the government is putting an effort to improve the investment environment in Egypt, by introducing relevant legislative and regulatory procedures, issuing incentives to encourage investment in the green economy and artificial intelligence, simplifying procedures and reducing the time required to obtain approvals and licenses for that type of projects to no longer than 20 working days, activating an additional non-tax incentive system as stipulated in the investment law, and the issuance of numerous necessary facilities such as the golden license. Commenting on the 7th Qatar-Egypt Follow-up Committee’s meetings, which was held in Doha last September, the Egyptian Prime Minister explained that the follow-up committee stemming from the Al Ula Summit’s statement served as an important tool through which most outstanding bilaterally matters and dossiers were settled politically, technically, and in relation to security, reach points of convergence and harmony between the two sides, adding that the outcome of the committee’s work was positive and constructive to the degree that clearly paved the way for the development of bilateral relations, with the most telling example of which was the visit of HE Egyptian President Abdel Fattah El Sisi to Doha in September 2022, as well as the visit of HH the Amir to Egypt in June 2022. In relation to the regional arena and the possibility of joint coordination between the State of Qatar and the Arab Republic of Egypt on many fronts, HE Egyptian Prime Minister Mostafa Kemal Madbouly pointed out that the region is facing many thorny issues that affect Arab national security, saying that His Excellency is looking forward to more coordination with the Qatari side in international and regional forums and organizations, with the aim to ease regional tensions and to reach political settlements to the Arab region’s crises. In the same context, he reaffirms Egypt's firm position in supporting and aiding the Arab Gulf states, who always share their goals and destiny, against any external dangers or threats, including the support for securing the freedom of navigation and the protection of energy sources against any physical threats, stressing that Arab national security is an indivisible whole. At the same level, His Excellency praised the State of Qatar’s position in support of Egypt and Sudan regarding the issue of the Grand Ethiopian Renaissance Dam (GERD) and Qatar’s emphasis on multiple occasions on the importance of reaching a fair, balanced, and binding solution that achieves the common interests of Egypt, Sudan and all Nile Basin countries, urging the parties involved to refrain from taking unilateral measures that would harm the rest of the Nile Basin countries. HE Egyptian Prime Minister Mostafa Kemal Madbouly concluded his dialogue with Qatar News Agency (QNA) by saying that he looks forward to more coordination with the Qatari side in international and regional forums and organizations in order to reduce regional tensions and to reach political settlements to the crises of the Arab Region. (QNA)