Philippines, Egypt explore opportunities to boost trade, investments

MANILA, Philippines — The Philippines and Egypt are exploring opportunities to expand trade and investments, according to the Department of Trade and Industry.

Trade Secretary Cristina Roque told reporters that she recently met with Egyptian Ambassador Nader Zaki to discuss opportunities to strengthen the two countries’ economic relations.

“They’re trying to find ways to really strengthen trade,” Roque said.

Discussions covered preparations for the upcoming visit of Egyptian foreign minister Badr Abdelatty.

The meeting also covered a proposed business roundtable, bilateral trade, investment opportunities and potential partnerships in agriculture and the Suez Canal Economic Zone.

Roque said that Egypt also conveyed its interest to bring the production of Egyptian cotton fabrics in the country.

“They want to introduce us to companies that are interested to explore (opportunities here),” she said.

Roque was supposed to visit Egypt last year to meet with companies interested to do business in the Philippines, but the trip did not push through.

She said that the agency is looking to revisit that plan this year.

She said that the Philippines’ huge market is seen to open opportunities for Egyptian firms.

In addition, the Philippines can serve as a gateway for Egyptian firms to the Southeast Asian market.