Britain will be studying reaching a top notch free trade agreement with Egypt after it leaves the European Union next March, an official said on Wednesday.
Egypt is one of the countries with which Britain would like to sign a post-Brexit free trade deal, said UK trade envoy Jeffrey Donaldson, citing a huge opportunity for British investors to engage in Egyptian infrastructure projects in new capital and New Al-Alamein City.
Britain’s credit export agency, UK Export Finance (UKEF) is keen to support upcoming British investments in Egypt as it would help investors to explore available and possible opportunities there, Donaldson said.
Though Britain is one of Egypt’s biggest investors, British firms continuously seek to boost their existing investments in Egypt, he added. For instance, Royal Dutch Shell Plc tends to increase its Egyptian investments every year.
The British member of parliament had hailed the ongoing significant economic cooperation between the UK and Egypt in areas of oil and gas, electronic education, healthcare, and infrastructure.
Donaldson made his remarks during a meeting in London with the Egyptian door-knock mission members, who started their visit to the UK on Tuesday to explore boosting bilateral cooperation between the two countries. The meeting was organised by the Egyptian British Business Council and the British Egyptian Business Association (BEBA).
