Egypt and the Philippines discuss expanding economic and commercial cooperation, focusing on trade, investment, tourism and agriculture while reaffirming their commitment to stronger bilateral ties.
The Egypt and Philippines have reiterated their intentions of enhancing their bilateral ties through exploring new possibilities of economic and commercial collaboration in their diplomatic talks held in Cairo. The talks revolved around expanding trade, investment, and sectoral cooperation, among others, while strengthening their friendship that had been there since time immemorial.
The discussion was held between Egypt’s Minister of Foreign Affairs, Emigration and Egyptian Expatriates Badr Abdelatty and Philippine Secretary of Foreign Affairs Ma. Theresa Lazaro, where both parties assessed the present status of bilateral ties and prioritized areas of collaboration going forward. The discussion was in line with the common goal of strengthening economic relations and providing business opportunities to companies from both nations.
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Trade and investments became important issues in the negotiations. The two ministers pointed out the necessity to boost the level of trade between the two countries and to attract more investments through involvement of the private sector. Trade was viewed as an instrument that would help achieve sustainable economic development and provide new business opportunities in both countries.
Among the areas that were seen to be very fruitful for cooperation is agriculture. The leaders from both sides have expressed the interest in the exchange of experience, the development of agricultural trade and cooperation that will lead to improvement in food production and food security.
The issue of tourism was also important during the discussions. The two countries, Egypt and the Philippines, were aware of the significance of boosting tourism ties through the means of heritage and better travel connectivity. This should bring economic benefits as well as enhance cultural ties between the two countries.
Apart from economic collaboration, they discussed the regional and international situation and renewed their resolve to conduct regular consultations in diplomatic channels. They stressed the significance of enhancing political dialogue and broadening cooperation via multilateral institutions to deal with matters of common concern.
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There was also a discussion on how to increase cooperation in areas of education, culture and capacity building, as improved institutional and academic cooperation would help to strengthen bilateral ties. The two governments decided to promote more interaction between public institutions, companies and civil society in order to achieve total cooperation.
It should be noted that the talks resulted in a mutual agreement about the need to develop relations between Egypt and Philippines by way of increasing trade and investment and developing sectoral cooperation. The two countries want to enhance cooperation in such spheres as agriculture, tourism, business, etc. in order to have a more effective relationship.