ATHENS – As Greece’s economy is roaring back with the waning of the COVID-19 pandemic now just about out of sight, more international agreements are being made, including with Egypt.

Greece’s Ambassador Nikolaos Papageorgiou met Minister of Trade and Industry Ahmed Samir to discuss ways of increasing business traffic and investments between them, said MENAFN-Daily News Egypt in a report,

https://menafn.com/1107184026/Egypt-Greece-Trade-Exchange-Grows-By-21-In-2022

Samir said that trade between the countries hit 2.2 billion euros ($2.31 billion) in 2022, a 21 percent increase from the previous year and as they agreed in 2021 on an undersea cable to take energy from Northern Africa to Europe.

He said they also talked about investments in Egypt for Greek companies through joint or local production and export to the European markets, taking advantage of opportunities.

Samir said his ministry has prepared a list of 152 investment opportunities to produce local supplies for the industrial sector, aiming to enhance the national industry and meet the industrial needs.

That was sent to the Egyptian Commercial Service office in Athens, highlighting the most prominent opportunities for Greek companies, especially in the food industries, Greek products highly prized.

He said the ministry is ready to support the Greek companies operating in Egypt and to help them with any issues, whether related to the ministry or others, in a push to increase investment opportunities.

He also noted that Greece ranks 11th among the European Union countries in terms of direct investment in Egypt, with investments of $255 million in 215 projects in various fields, such as finance, industry, services, construction, tourism, agriculture, communication and information technology.

Papageorgiou said that Greece is eager to get a bigger foothold in the Eygptian market, especially in areas including clean energy, environment, food, and plastic and noted growing interest from Greek companies.