Egyptian Prime Minister Mostafa Madbouly, speaking on behalf of President Abdel Fattah Al-Sisi at the World Economic Forum (Davos 2025), observed the signing of an agreement between Egypt and Switzerland for the Joint Economic Committee.
Additionally, he had important meetings with Volvo Group and Yara Clean Ammonia to talk about possible collaborations.
The economic agreement improves bilateral ties, especially in trade, investment, and economic growth, signed by Switzerland’s State Secretary for Economic Affairs Helene Budliger Artieda and Egypt’s Minister of Planning and Economic Development and International Cooperation Rania Al-Mashat.
“The signing of the Joint Economic Committee agreement strengthens bilateral relations between Egypt and Switzerland in various fields, particularly trade, investment, and economic development,” Mostafa Madbouly stated.
He underlined that the agreement is a major turning point in Egyptian-Swiss collaboration and a bold move toward deepening economic ties in keeping with both nations’ goals of sustainable development in several areas.
The agreement creates a Joint Economic Committee to support investments, encourage bilateral trade, uncover market opportunities, ease information sharing, and remove trade obstacles.
In addition, the committee will encourage the sharing of expertise and examine current economic accords. According to Minister Al-Mashat, the current bilateral cooperation portfolio consists of USD 71.6 million in grants that support nine projects in the public, private, non-profit, and government sectors.
Yara Clean Ammonia CEO Hans Olav Raen met with Mostafa Madbouly, who commended the continued collaboration in green hydrogen. Considering Egypt’s emphasis on expanding its renewable energy capacity for the production of green hydrogen, he stated his desire to deepen cooperative efforts.
Additionally, he emphasised Egypt’s intention to raise the proportion of renewable energy sources in the mix.
Drawing attention to President El-Sisi’s recent visit to Norway and the following agreements, Raen reaffirmed Yara’s dedication to a long-term partnership.
He said that he would like to travel to Egypt to talk about extending collaboration in the production of green hydrogen and ammonia. Representatives from Yara also indicated interest in working together on producing fertiliser and urea.