Investment Minister: Egypt Main Member In BRI

Minister of Investment and International Cooperation Sahar Nasr on behalf of Prime Minister Mostafa Madbouli, took part in the inauguration of "The Tiplisi Silk Road Forum" held in the Georgian capital Tpilisi.,

The forum was opened by Georgian Prime Minister Giorgi Gakharia in the presence of prime ministers and ministers from 38 countries.

In a session on investment, Nasr said Egypt's participation in the forum reflects the strong partnership with the Silk Road member-states and commitments on expanding cooperation with all participants in the forum.

According to a press release by the Ministry of Investment and International Cooperation, Nasr also said that Egypt is considered an important part in the Belt and Road Initiative (BRI) due to its strategic geographical location and the huge volume of its investments.

She pointed out to the importance of Egypt's mega national projects especially in the Suez Canal area, the new administrative capital and the gold triangle which helped the private sector take part effectively in the development process.

The minister stressed the importance of President Abdel Fattah El Sisi's launch of the African Continental Free Trade Area (AfCFTA) which contributes to deepening economic and investment cooperation among African countries along with Egypt's initiative to link African countries together through Alexandria-Cape Town road.

Nasr urged Georgian investors to increase their investments in Egypt which currently stand at 835 million dollars and are focused on the fields of agriculture, tourism, services and construction.

Gakharia, for his part, stated that the conception of the New Silk Road, to connect Europe with Asia, and the participation in the initiative is among the top priorities of the Georgian government.

Historically Georgia has played an important role in the development of the Silk Road. In the modern world, when economic integration and globalization is in action, the development of trade and economic relations between countries is of top importance and we are proud to be the part of the Silk Road initiative which serves the goal of close economic, state-to-state cooperation,” Gakharia said.

He said Georgia was one of the first countries which applauded the Chinese Belt and Road initiative (also known as a new Silk Road), to create new trade corridors between Europe and Asia and improve existing ones.

"We supported the initiative and signed the cooperation deal back in 2015 which gave a new push to Georgia-Chinese relations and led to the signing of the free trade deal,” Gakharia, quoted by Agenda GE., said.

He stated that the Tbilisi Silk Road Forum is “an important opportunity” and a platform on which the countries involved in the Silk Road initiative, international organisations and the private sector discuss regional economic challenges and search for ways on how to overcome them and share experience.

"I am sure that the Tbilisi Silk Road Forum will play an important role in the implementation of the Silk Road initiative.

We believe that the forum will help Georgia carry out its function, to be a connecting bridge between Europe and Asia, more effectively,” Gakharia said.