Blanar Signs Slovak-Egypt Agreement on Economic Cooperation

Cairo/Bratislava, 2 November (TASR) – An intergovernmental agreement on economic cooperation between Slovakia and Egypt was signed in Cairo on Saturday (1 November) by Slovak Minister of Foreign and European Affairs Juraj Blanar and Egyptian Minister of Planning, Economic Development and International Cooperation Rania al-Mashat, TASR has learnt from the Foreign and European Affairs Ministry press department. According to the head of Slovak diplomacy, the document represents an important step in strengthening relations between the two countries and creates a new long-term foundation for their economic cooperation. “In an effort to strengthen the activities of Slovakia's economic diplomacy, which have a direct positive impact on our economy, we are intensifying dialogue with countries in regions where potential is growing and where Slovak entrepreneurs are interested in developing their activities. One of these regions is the Global South, including African countries, among which Egypt holds an important position for us,” Blanar said. According to him, the aim is to boost mutual trade between Slovakia and Egypt, which reached €342 million last year. The new agreement focuses on supporting cooperation at both governmental and professional levels with the goal of exchanging information and expertise, promoting investment through the establishment of joint ventures, participation of entrepreneurs in trade fairs and exhibitions, and mutual visits of business delegations. On the Slovak side, the agreement is overseen by the Economy Ministry. Based on the agreement, a Joint Commission for Economic Cooperation will be established, meeting once a year either in Slovakia or Egypt, Blanar explained. “In this way, we can support relations in trade, investment, innovation and energy more effectively and contribute to the greater involvement of Slovak companies in promising projects on the Egyptian market,” he added. mf