Soonar 
Minister of Trade and Industry, Ahmed Samir, held a meeting with the Ambassador of Italy to Egypt, Michele Quaroni, and the accompanying delegation.
The two officials discussed ways to promote economic relations between the two countries in the areas of trade, industry, investment and maritime transport. The meeting was attended by Director General of the Trade Agency, Lorenzo Galanti, and Trade Commissioner and Head of Trade Representation, Yahya Al-Wathiq Billah.
The minister indicated that the meeting provided an opportunity to review current and future cooperation projects between the two countries, especially the transfer of advanced Italian industrial expertise and technologies to Egyptian industry, as well as the activation of the system logistics transport between the two countries, which contributes to facilitating access of Egyptian exports to the markets of European countries through the Italian market, as well as facilitating access of Italian goods to the markets of countries on the African continent through the Egyptian market, noting that the meeting examined the possibilities of establishing more joint industrial projects in Egypt and exporting to the markets of the African Continent and Arab countries, benefiting from the free and preferential trade agreements, signed between the Egypt and these countries, especially the African Continental Free Trade Agreement (AFCFTA) and the Greater Arab Free Trade Area Agreement.
Mr. Samir highlighted the importance of the African market as an important destination for Egyptian exports, stressing that work is underway on a few initiatives and projects aimed at facilitating trade between Egypt and countries on the continent. , including: the African Directed Trade Initiative as part of efforts to activate the African Continental Free Trade Agreement, and the Cairo-Cape Town route, which could help facilitate the transport of Italian exports to the markets of the landlocked countries of Central Africa, also negotiates with a number of countries on the continent with a view to commercial exchanges in local currency.
The minister noted that the African continent has several natural resources, which represents a unique opportunity for Egyptian-Italian investments to benefit from these resources and translate them into concrete cooperation projects, which are in the interest of all parts.
A sharp decline in the revenues of the Suez Canal due to tensions in the Red Sea