The Embassy of Finland in Cairo is launching a new cooperation body to promote trade between Finland and Egypt.
The new Egyptian-Finnish Business Council EFBC will organize business events and foster contacts between Finnish and Egyptian businesses. The EFBC network will also provide the opportunity for members to share their experiences on best practices and common challenges, with the aim of fostering increased trade relations and concrete cooperation between Finnish and Egyptian companies.
Finland and Egypt have a long tradition of economic and trade relations. Finland is the 10th largest trading partner of Egypt among the European Union countries and has a long history of exporting wood products to Egypt for construction. Trade in the forestry sector continues strong.
In recent years Finland's high quality knowhow and products in the information and communications technologies (ICT) have expanded cooperation and trade in this sector. The ICT sector provides plentiful further opportunities for trade.
Another up-coming and very interesting sector is "Cleantech", or clean technologies, which are essential for the Egyptian economy's and the environment's sustainable development. The education sector also provides interesting possibilities, based on already existing cooperation.
The EFBC will also provide opportunities to examine the potential for increasing Egyptian imports to Finland. The structure of the EFBC is informal. Its membership will consist of the representatives of Finnish companies, their Egyptian joint ventures, agents and representatives, as well as distributors and importers of products from Finland in Egypt. In addition Finnish nationals working for international organizations and institutions in Egypt will be invited to take part.