Egyptian-Malaysian Free Trade Agreement in ProgressSource: www.export-egypt.com 10/8/2024, Location: Africa |
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Egypt’s Minister of Investment and Foreign Trade Hassan Elkhatib and his Malaysian counterpart are currently engaged in designing a free trade agreement (FTA) between the two countries, where palm oil will be a key pillar of this imminent action, the Malaysian Minister of Plantation and Commodities Datuk Seri Johari Abdul Ghani told Ahram Online.
Abdul Ghani said this in his reply to Ahram Online’s question on the extent of the cooperation between Malaysia and Egypt, during a press conference held on the sidelines of the two-day Malaysian Palm Oil Forum (MPOF KL 2024) kicked off in the Malaysian capital Kuala Lumpur. This forum was launched under the theme “Navigating Trading Challenges with Sustainable Solutions,” with the participation of a group of Egyptian companies. Egypt is a main importer of Malaysian palm oil; moreover, the Malaysian Palm Oil Council (MPOC) has a trade office in Cairo among other seven global offices, including three in the Middle East region along with ones in Saudi Arabia and Turkey. Egypt is already engaged in several multilateral trade agreements, including the Greater Arab Free Trade Agreement (GAFTA), the African Continental Free Trade Area (AfCFTA) Agreement, the Agadir Free Trade Agreement, and the Common Market for Eastern and Southern Africa (COMESA), among others. |
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