04 December 2023 06:41 PM

CBE discusses boosting economic relations with Switzerland

Friday، 29 September 2023 - 02:33 PM

Vice Governor of the Central Bank of Egypt (CBE) Ramy Abul Naga on Thursday 28/09/2023 conferred with Swiss State Minister of Economy and Planning Helene Budliger Artieda and her accompanying delegation on means of boosting economic ties between the two sides as part of the Swiss Cooperation Program with Egypt for 2021-2024.

Swiss Ambassador in Cairo Yvonne Baumann attended the meeting that was held at CBE premises.

The Swiss minister's first visit to Egypt comes as part of her participation in the 8th annual meeting of the Asian Investment and Infrastructure Bank (AIIB), held in the Red Sea resort of Sharm El Sheikh.

The CBE vice president welcomed the Swiss minister and her accompanying delegation, commending the outstanding and strong ties binding the two countries.

During the meeting, Abul Naga reviewed the economic conditions of Egypt and the promising opportunities for investment in the Egyptian market, briefing the Swiss side on the measures implemented by the CBE in cooperation with the government to mitigate the impact of economic challenges facing the world.

The Swiss minister, for her part, asserted that her country was backing Egypt's economic reform programe which is implemented upon agreement with the International Monetary Fund (IMF).

She also welcomed the formation of a joint economic committee with Egypt that would be assigned with bolstering joint cooperation in all fields between the two sides.

Swiss companies have been operating in Egypt over the past four decades and the current Swiss investments in Egypt stand at dlrs 1.2 billion.


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