Major General Mohamed Salah Abu Hamila, Chairman of the Parliamentary Committee of the Republican People's Party, said that the visit of the King of Spain and his wife to Egypt at this time is an important step in light of the challenges facing the Middle East. This visit is not just an official event, but reflects the keenness of the two countries to enhance cooperation in the political, economic and trade fields.
New investment opportunities
Abou Hamila pointed to the opening of the Egyptian-Spanish Business Forum, which was attended by representatives of the private sector, as this forum is an ideal platform to promote investment opportunities in Egypt. Egypt has an attractive investment climate and strong infrastructure. The presence of stimulating legislation encourages Spanish companies to make new investments, which will contribute to deepening cooperation between Cairo and Madrid.
Egypt and Spain’s cooperation spans areas including combating illegal migration, fighting terrorism, and tackling climate change. Through this forum, Abu Hamila hopes to attract more Spanish investments to the Egyptian market, which will reflect positively on the Egyptian economy.
Partnership Strategy between the two countries
Abou Hamila also explained that relations between Egypt and Spain have risen to the level of strategic partnership after President Sisi’s visit to Spain. Spain is an important trade partner of Egypt in the European Union, making this visit an opportunity to enhance cooperation in various fields such as tourism and renewable energy.
The visit of the Spanish king and his wife to the tourist and cultural attractions in Egypt is a message to the world that Egypt can provide a stable and safe environment for tourism, which encourages more tourism delegations.
Economic statistics
He pointed out that the volume of trade exchange between Egypt and Spain amounted to 1.5 billion dollars during the first half of this year, a figure that reflects the positive trend of trade relations between the two countries. Egyptian exports reached $712 million, while Spanish investments in Egypt reached $61.4 million.
Finally, The visit marks the beginning of a new phase of fruitful cooperation between Egypt and Spain, which will contribute to the development of vital sectors and promote the economic growth of the two countries.
