UK, Egypt Agree To Intensify Economic Cooperation, Investment - Government Statement

LONDON (Pakistan Point News / Sputnik - 21st January, 2020) The United Kingdom and Egypt will strengthen economic cooperation after both countries signed an agreement which will see London increase its investment in the Egyptian economy as Cairo seeks to meet United Nations sustainable development targets, a joint statement published by the UK government said.

Representatives from both countries attended the inaugural UK-Africa Investment Summit in the UK capital on Monday. London and Cairo will seek to cooperate further in the education, health and financial sectors, as well as look to bolster bilateral trade, the joint statement read. Particular attention will also be paid to promoting inclusive economic development and decreasing youth unemployment in Egypt.

"The UK is committed to deepening its bilateral cooperation with Egypt and growing our strong trading relationship. Our joint statement paves the way for us to intensify our economic partnership and support Egypt to develop a sustainable economy that can benefit future generations," Secretary of State for International Development of the United Kingdom Alok Sharma said.

These sentiments were shared by Egypt's Minister of International Cooperation Rania Al-Mashat, who stated that Cairo will look to implement a UN agenda for sustainable development, adopted in 2015.

"The UK is a strategic partner to Egypt and I look forward to strengthening the cooperation between our two countries. Together, we will work on the full implementation of the programs in our joint statement, which are designed to achieve sustainable economic growth by delivering on Egypt's 2030 vision consistent with the UN Sustainable Development Goals," Al-Mashat said.

UK Prime Minister Boris Johnson on Monday attended and spoke at the investment summit. The prime minister stressed that his country could become an attractive trade partner for African nations following the UK's exit from the European Union.