A delegation of Finnish businessmen visited Egypt from 7th to 10th of June. The delegation consisted of businessmen from sectors varying from timber to cleantech and was led by the undersecretary of state Matti Anttonen.
During the trip the delegation visited a number of business related institutions in Egypt. The first day began with a meeting with the minister of urban planning Laila Iskander. Minister Iskandar introduced opportunities for the Finnish companies to work on the development of urban spaces. The delegation visited also the Ministry of Industry, Trade and Small Enterprises to discuss the business environment in Egypt.
The delegation was received by the European Investment Bank, the World Bank and the European Bank for Reconstruction and Development. International investment banks shared their views on the state of Egyptian economy. They also explained their activities in Egypt and possible areas of cooperation in the future. The delegation also attended a seminar arranged by the General Authority of Investment. Around twenty Egyptian companies attended, whom which opportunities of business cooperation were discussed.
Some connections were also made at the meeting with the Federation of Egyptian Industries. Means to enhance the trade between the countries were discussed widely. Egyptian counterparts were especially interested in the Finnish know-how on renewable energy as Egypt is going through a major reform in the energy sector. Also possible sectors for the Egyptian exports to Finland were discussed.
Finland and Egypt have trade relations for over hundred years already. It might come as a surprise that Egypt is the biggest importer of the Finnish wood. Seventy percent of the Finnish exports to Egypt consist of wood and related products. One of the delegations goals was to widen the variety of exports to Egypt as well as to introduce Egypt to new innovations in the wood sector. After three intensive days, the delegation continued its trip to Algeria.