In line with the directives of Dr. Mohamed Farid Saleh, Minister of Investment and Foreign Trade (MIFT Minister), to strengthen the promotion of Egyptian investment opportunities abroad, a delegation from the General Authority for Investment and Free Zones (GAFI), headed by Walid Anwar, GAFI Deputy CEO, participated in the Sri Lanka Economic and Investment Summit in Colombo, in coordination with the Embassy of the Arab Republic of Egypt in Sri Lanka.
The delegation held meetings with representatives of the Sri Lankan Board of Investment; Mr. Raaj Obeyesekere, Head of the Sri Lanka Tea Board; Krishan Balendra, Chairman of the Ceylon Chamber of Commerce and Chairman of the Sri Lanka Tea Industry Chamber; Ashroff Omar, CEO of Brandix Lanka Limited; representatives of LOLC Holdings; and representatives of Ceylon Fishing Industries, Emerald Industries, a garment manufacturer, and ZAM Gems, which specializes in gemstones and jewelry. The meetings explored opportunities to establish new projects and partnerships and expand existing investments in Egypt.
On the sidelines of the summit, the delegation organized a roundtable attended by representatives of Sri Lankan economic and investment institutions and chambers of commerce. The session was opened by Ambassador Ahmed Helal, Egypt’s Ambassador to Sri Lanka, who emphasized the importance of strengthening economic and investment relations between the two countries.
Mr. Walid Anwar highlighted the diverse opportunities for accessing regional and international markets offered by Egypt’s network of free trade agreements. He reaffirmed GAFI’s commitment to providing the necessary support and facilitation to Sri Lankan companies seeking to establish new projects and expand their existing investments in Egypt.
GAFI delegation also presented the regulatory framework governing investment, the various investment frameworks, and the facilities available to investors. Discussions explored opportunities for cooperation in textiles and ready-made garments; production inputs; printing, packaging, and packing; food industries, tea production, and beverages; healthcare and medical tourism; tourism and hospitality; transport, shipping, and logistics services; fisheries; and banking and non-bank financial services, including financing for small, medium-sized, and micro enterprises.
The discussions also addressed ways for Sri Lankan companies to benefit from the free trade agreements to which Egypt is a party, in accordance with the rules of origin governing each agreement, thereby enhancing opportunities to expand production and exports to regional and international markets.