Egypt Aims to Transform Strategic Partnership with Italy into Tangible Joint Projects and Investments

The CEO of the General Authority for Investment and Free Zones (GAFI), Mohamed Awad, announced that Egypt is actively working to transform its strategic partnership with Italy into concrete joint projects, industrial and commercial partnerships, and investments designed to strengthen economic ties and advance mutual interests.

Speaking on behalf of Minister of Investment and Foreign Trade Mohamed Farid Saleh at the closing session of the Egypt-Italy Business Forum, Awad emphasized that the event highlights the robust strategic relationship between the two nations and the vast potential for elevating bilateral economic cooperation.

Awad pointed to Egypt's ongoing reforms to foster a competitive investment climate, simplify administrative procedures, and attract productive investments aimed at boosting manufacturing and expanding exports. Bilateral trade between Egypt and Italy reached approximately €5.9 billion in 2025, while Italy currently holds the fourth position among foreign investors in Egypt, with cumulative investments totaling about dlrs 23.4 billion through approximately 1,400 Italian companies and partnerships operating from fiscal year 2004/05 to 2024/25.

Furthermore, Awad underscored the value of leveraging Italy's financial and institutional footprint in Egypt, including the Italian Deposits and Loans Fund (CDP), the Italian Export Credit Agency (SACE), the Italian Society for the Internationalization of Companies (SIMEST), and the Italian Trade Agency (ICE), also recognized internationally as ITA. These entities provide crucial financing, guarantees, and promotional tools to accelerate joint ventures.

During the forum, a cooperation protocol was formalized between GAFI and Bank of Alexandria—a subsidiary of Italy's Intesa Sanpaolo Group—to enhance investor services and support. Additionally, participants explored ways to strengthen maritime cooperation between Egyptian and Italian ports, boost transit trade between Europe and the Gulf, and leverage Egypt's geographic position to bolster regional and international commerce.