Foreign Minister Sameh Shoukry on Thursday lauded cooperation relations binding Egypt and Portugal in various fields including economic and trade spheres.

The remarks were made by Shoukry in the inauguration of the second forum of the Egyptian-Portuguese business council in Cairo in the presence of visiting Portuguese Minister of Foreign Affairs Augusto Santos Silva.

Shoukry added that the cooperation between Egypt and Portugal has witnessed significant growth in the past years.

He pointed out that the visit made by President Abdel Fattah El Sisi to Portugal in November contributed to boosting relations between the two countries in various fields, especially in the economic and commercial ones.

The foreign minister reviewed the economic reform plan adopted by the Egyptian government as well as Egypt's underway mega projects. 
Addressing the inauguration of the second forum of the Egyptian-Portuguese business council, Shoukry noted that Egypt and Portugal's governments work on providing a suitable investment and economic climate to attract the business community. 

He expounded that improving the legislative structure related to promoting trade, investment, and growth is an essential factor contributing to fostering relations between Egypt and Portugal.

He noted that Egypt's economic reform strategy resulted in achieving positive economic growth that reached 4.5 percentage.

Within the framework of encouraging investment, he affirmed that the Egyptian government carried out a number of legislative amendments to facilitate investment procedures and guarantees. 

The foreign minister called on Portuguese companies and people to invest in Egypt in its various fields of production and services.

Shoukry expressed hope that the Egyptian-Portuguese business council forum would lead to concrete results contributing to fostering trade and investment cooperation. 
For his side, Portuguese Minister of Foreign Affairs Augusto Santos Silva hailed relations binding Cairo and Lisbon, describing them as strong and solid.

Silva stated that cooperation relations between Egypt and Portugal comprise all fields including tourism, economic and commercial spheres.

Silva noted that Portugal is a gateway for Europe while Egypt is the gateway to the Middle East and Africa.

Therefore partnership between such key countries is crucial because boosting cooperation between them represents cooperation between the south and the north of the Mediterranean, Silva added.

He pointed out to the importance of the the Egyptian-Portuguese business council, saying that such forum is considered as a framework to discuss cooperation relations between the two countries and means to foster them in the economic, investment and trade fields.

The Portuguese foreign minister underlined that Portuguese exports for Egypt have been increased noticeably during the past year.

Silva stressed the necessity to increase the trade volume and boosting economic cooperation in favor of the two countries as well as to encourage Egyptian and Portuguese companies to work together.

Source: MENA