Historical relations between Egypt and Eritrea

This came to discuss prospects for cooperation on files of common interest, and to introduce the Authority and the investment opportunities available in it in light of the historical relations between Egypt and Eritrea, within the framework of Egyptian-African cooperation, and the joint strategic extension of both countries as Red Sea coastal states. The Egyptian Ambassador to Eritrea attended the meeting, in addition to a number of the Authority’s executive leaders.

Eritrean President's visit to the Suez Canal Economic ZoneEritrean President's visit to the Suez Canal Economic ZoneEritrean President's visit to the Suez Canal Economic Zone

Free trade agreements and international agreements

At the beginning of the meeting, Walid Gamal El-Din gave a presentation about the Suez Canal Economic Zone and its competitive advantages, which represent attractive elements for the African and international business community, most notably the strategic location of the zone on both sides of the Suez Canal, with full access to various global markets, and with the support of free and international trade agreements, in addition to the integration between the industrial zones and the strategic ports affiliated with the Authority on the Mediterranean and Red Seas, which contributes to bringing the production, manufacturing and logistics areas closer to the targeted markets. 

Eritrean President's visit to the Suez Canal Economic ZoneEritrean President's visit to the Suez Canal Economic ZoneEritrean President's visit to the Suez Canal Economic Zone

 He pointed to the availability of trained technical labor at a competitive rate, the readiness of the investment climate with a real one-stop shop to provide services to investors in a dynamic way and clear procedures, and the readiness of the infrastructure and facilities with world-class specifications, stressing that these advantages and others contributed to the Authority’s success in attracting investments exceeding $16 billion during the last four years.

The Chairman of the Suez Canal Economic Zone accompanied the Eritrean President and his delegation on an inspection tour of the integrated Sokhna area, which included the Sokhna port and a number of factories operating in the renewable energy, chemical products, building materials, health products, and heavy industries sectors. In this context, the Chairman of the Suez Canal Economic Zone explained that the Authority is keen in its strategic vision to localize industry in a number of vital sectors, most notably: ports and logistics services, the automotive and vehicle manufacturing industry of all kinds, data centers, as well as green fuel, for which the Suez Canal Economic Zone is a leading global center for its production and supply to ships, especially in light of the growing global demand for renewable energy, due to the geopolitical challenges that have cast a shadow on the supply chains of traditional fuels. He emphasized in this context that the political and economic stability in Egypt supports the Authority's plans and efforts as one of the arms of the Egyptian state in serving the global economy and trade and achieving development in the African continent.