CAIRO (Parliament Politics Magazine) – The UK-Egypt Association Council was officially launched in London by Liz Truss, UK Foreign and Commonwealth Affairs and Development Minister and Sameh Shoukry, Egyptian Foreign Minister.
Following the launch, the two nations released a joint statement in which they emphasised that it had given them a new platform for promoting the goals outlined in the December 2020 agreement between Egypt and the UK.
In the statement, it was revealed that the two ministers had discussions about strengthening the strategic alliance between their nations and welcomed a number of business achievements between them, including the plan to produce monorail linear trains in Derby, England, with funding from the British Export Finance Corp.
This is in addition to the sale of two Royal Navy-owned maritime supply units to Egypt, which also included contracts for development and renewal.
According to the statement, the cooperation also included Globeleq’s $80 million investment in the opening of a new solar energy field with a 66 megawatt capacity, Lekela Wind Energy’s $325 million million investment in the start of commercial operations, and British International Investment’s approval of a $100 million investment to get Alpha Medical Group.
The two ministers committed to work tirelessly to promote bilateral trade and investment, including resolving any trade barriers and working to enhance market access in the healthcare, agricultural, financial and energy sectors through establishing a trade subcommittee. They also addressed potential for improving economic cooperation between the UK and Egypt.
The governments of both the countries also reaffirmed their dedication to boosting bilateral cooperation and investments in education and healthcare and they welcomed the development of their technical cooperation. It is believed it will support combined efforts to remove obstacles to market access in priority industries.
The British Gas and Electricity Markets Authority and the Egyptian Electric Utility and Consumer Protection Regulatory Agency have signed a declaration of intent to work together in the future to modify Egypt’s renewable energy laws.
The finding of prospects for trilateral collaboration with African nations in a variety of disciplines, particularly infrastructure, was welcomed by the two ministers.
The UK praised Egypt for its efforts in preparing to host COP27 in Sharm El-Sheikh in November and emphasised its determination to advance the Glasgow Climate Charter and previous UN climate change objectives.
Both Egypt and the UK emphasised the significance of assisting developing nations in making a just transition to patterns of sustainable development that are environmentally responsible and compatible with efforts to better handle climate change, including the shift toward sustainable energy and green hydrogen, as well as adapting to the effects of climate change through the sustainable and integrated management of natural resources, boosting resilience, and building technical and technological capabilities.
The two ministers also spoke on a variety of issues of bilateral, regional, and international concern, including human rights, and expressed a desire to continue holding Association Council meetings on a regular basis to further the relationship between London and Cairo.
The UK congratulated Egypt for its leadership and work in the field of producing renewable energy as well as for giving British investors and businesses possibilities in the energy sector.
