Minister of Planning, Economic Development, and International Cooperation holds a discussion session with the Armenian Minister of Economy to discuss the future of the economic partnership between the two countries

At the outset of the 6th Session of the Egyptian–Armenian Joint Committee…

 

Minister of Planning, Economic Development, and International Cooperation holds a discussion session with the Armenian Minister of Economy to discuss the future of the economic partnership between the two countries

 

• Al-Mashat: The Egyptian economy is achieving strong growth driven by policies, structural reforms, and public investment governance

 

• We look forward to broader partnerships with Armenia to increase trade exchange rates and joint investments and enhance cooperation in the agricultural sector and the localization of industry

 

At the outset of the proceedings of the 6th Session of the Egyptian–Armenian Joint Committee for Economic, Scientific, and Technical Cooperation, held in the New Administrative Capital, H.E. Dr. Rania Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, held a discussion session with Mr. Gevorg Papoyan, Minister of Economy of the Republic of Armenia, to discuss strengthening the economic partnership between the two countries and joint efforts to expand areas of cooperation between the two governments as well as the private sector in both countries.

 

H.E. Dr. Rania Al-Mashat welcomed the Armenian Minister of Economy and the accompanying delegation, and extended congratulations to the Republic of Armenia on the signing of the peace agreement in 2025, noting the strong relations between the two countries and the keenness of H.E. President Abdel Fattah El-Sisi, President of the Republic, to advance economic, trade, and investment relations with the Republic of Armenia, as reflected in the visit of the Prime Minister of Armenia in 2024, and the President’s emphasis on the importance of activating institutional mechanisms, including the Joint Committee, to enhance the trajectory of relations between the two countries.

 

H.E. also congratulated the Republic of Armenia on hosting the Annual Meetings of the European Bank for Reconstruction and Development in 2024, which held significant importance with the Bank’s approval of its expansion into Sub-Saharan Africa and a number of other countries.

 

H.E. noted that relations between the two countries contribute to achieving common interests that support stability and growth in both Egypt and Armenia, affirming Egypt’s keenness to strengthen and deepen bilateral relations with Armenia in the future, pointing to the importance of intensifying cooperation across various economic, trade, scientific, and cultural fields, and affirmed Egypt’s commitment to providing an attractive investment environment for Armenian investors, offering incentives and opportunities across different economic sectors.

 

H.E. also reviewed the State’s efforts to enhance the stability of the Egyptian economy, affirming that the economy is achieving strong growth driven by the governance of public investments and structural reforms.

 

H.E. addressed the efforts undertaken by the State to enhance macroeconomic stability, work toward the localization of industry, and increase investments, as well as the positive developments witnessed recently with the entry of new companies into the Egyptian market in sectors such as textile manufacturing, solar panel industries, and others. She noted that Egypt places food security at the top of its priorities, which represents a promising area for cooperation between the two countries, particularly in light of Armenian expertise in the agricultural sector.

 

Regarding the 6th Session of the Egyptian–Armenian Joint Committee for Economic, Scientific, and Technical Cooperation, H.E. Dr. Rania Al-Mashat emphasized the importance of the Committee as the main institutional framework organizing the paths of bilateral cooperation, referring to the draft protocol of the 6th Session, which includes prospects for cooperation across a wide range of priority sectors, including political dialogue; trade and economic cooperation; investment; electricity and renewable energy; culture; higher education; health and pharmaceutical industries; sports; the Suez Canal Economic Zone; micro, small, and medium enterprises; agriculture; communications; and advanced technologies.

 

With regard to economic relations between the two countries, Al-Mashat explained that despite the strength of historical and political ties between Egypt and Armenia, economic relations have not yet reached their full potential. However, recent indicators reflect increasing positive momentum, and therefore increasing trade exchange and joint investments between the two countries is one of the priorities to be pursued in the coming period.

 

The two sides also discussed cooperation in the agricultural sector through supporting rural and agricultural development by adopting modern agricultural extension methods, thereby contributing to raising farmers’ awareness, increasing productivity, and enhancing the ability to address agricultural challenges.

 

For his part, the Minister of Economy of the Republic of Armenia expressed his appreciation for the warm hospitality during his visit to Egypt, stressing his country’s appreciation of relations with the Arab Republic of Egypt, which are considered a priority for Armenia to enhance investment volumes and trade exchange and open broader avenues for cooperation. He noted that Armenia is working to diversify its economy, particularly following the signing of the peace agreement with Azerbaijan in August, which has contributed to strengthening peace and stability in the Caucasus region.

 

The Armenian Minister of Economy praised the continuous development of joint relations with Egypt, affirming that there are significant opportunities for cooperation, especially in light of the development projects Armenia is implementing, including projects within the framework of the China’s Belt and Road Initiative, as well as other fields, which enhances opportunities for cooperation with the Egyptian private sector.

 

In a related context, the Armenian Minister of Economy extended an invitation to the Minister of Planning, Economic Development, and International Cooperation to participate in the Investment Summit scheduled to be held in Armenia next May.