bilateral trade

H.E. Dr. Rania Al-Mashat, Minister of Planning, Economic Development and International Cooperation, and Mr. Gevorg Papoyan, Minister of Economy of the Republic of Armenia, co-chaired the 6th session of the Egyptian-Armenian Joint Committee for Economic, Scientific, and Technical Cooperation, held in Egypt's New Administrative Capital, with the participation of representatives from relevant entities on both sides.

The committee held extensive discussions with active participation from representatives of both sides to explore opportunities for enhancing joint cooperation, particularly in agriculture and food security, advanced technology and artificial intelligence, youth and sports, scientific research, and increasing trade exchange.

In her remarks during the session, H.E. Al-Mashat emphasized the importance of bilateral relations based on mutual respect and joint efforts to strengthen cooperation in economic, cultural, and social fields. These relations have gained momentum through ongoing high-level dialogue, as well as the historic visit of H.E. President Abdel Fattah El-Sisi to Yerevan in January 2023 — Egypt's first presidential visit to Armenia since its independence — which opened a new chapter in bilateral relations.

She stated that Egypt is committed to deepening cooperation with Armenia across all areas of mutual interest. The partnership extends beyond diplomatic frameworks to include economic development, scientific collaboration, cultural exchange, and strengthening people-to-people ties. Looking ahead, the potential to expand economic cooperation between the two countries is clear and promising, with significant untapped opportunities to diversify trade and investment flows.

H.E. Al-Mashat highlighted that agriculture, food industries, construction materials, pharmaceuticals, textiles, machinery, and light manufacturing represent promising areas for expanding joint cooperation. Meanwhile, Armenia's industrial capacity, skilled workforce, and access to regional markets offer important opportunities for Egyptian partners and investors.

She also addressed tourism as a key pillar of cooperation and explored partnership opportunities in ICT, digital transformation, capacity building, youth training, and cultural heritage digitization.

H.E. Al-Mashat concluded her remarks by emphasizing that the work of the Joint Committee provides an important platform to translate shared political will into practical initiatives, sustainable partnerships, and measurable outcomes — with both peoples rightfully expecting tangible results.

For his part, the Armenian Minister of Economy stressed that Egyptian-Armenian relations exemplify cooperation based on mutual respect and shared interests, rooted in historical and cultural ties. He highlighted a shared commitment to deepening economic and trade partnerships. Given ongoing reform and development efforts in both countries, he emphasized the importance of building on this foundation to enhance trade, diversify cooperation, and open new opportunities for the private sector, contributing to sustainable economic growth and integration into regional and global value chains.

He added that the Joint Governmental Committee plays a central role in organizing and developing economic relations between Egypt and Armenia, providing an institutional framework to coordinate relevant entities, monitor progress, and set clear sectoral priorities. The committee also serves as an effective platform to convert opportunities into concrete projects and support more sustainable and balanced trade and investment flows, reflecting the shared political will to elevate bilateral relations into a long-term economic partnership benefiting both peoples.

At the conclusion of the session, the ministers — co-chairs of the Joint Committee from Egypt and Armenia — signed the 6th session protocol for economic, scientific, and technical cooperation. The protocol includes multiple promising areas to expand bilateral relations, particularly in trade cooperation, increasing bilateral trade, leveraging competitive advantages, encouraging the private sector to develop new partnerships, and creating alliances to promote economic development and organize joint exhibitions.

The cooperation protocol also aims to promote investment partnerships, knowledge exchange, and invites the Armenian side to explore investment opportunities in the Suez Canal Economic Zone, especially in industry and logistics services, in addition to collaboration in SMEs, electricity and renewable energy, youth and sports, culture, and higher education.

From the Egyptian side, participants included representatives from the Ministries of Foreign Affairs, Investment and International Trade, Agriculture, Electricity and Renewable Energy, Culture, Higher Education, Youth and Sports, Health, Communications and Information Technology, the Public Business Sector, as well as the General Authority for Investment and Free Zones, the Small, Medium, and Micro Enterprise Development Agency, and the Suez Canal Economic Zone Authority.

From the Armenian side, participants included Mr. Armen Sarkissian, Ambassador of Armenia to Egypt, and representatives from the Ministries of Economy, Foreign Affairs, High-Tech Industry, Health, Education, Science and Culture, Youth, and other relevant entities.