The topics on deepening Armenian-Egyptian economic relations were discussed

On October 24, the Ambassador Extraordinary and Plenipotentiary of the Arab Republic of Egypt to Armenia, Serenade Soliman Gamil, hosted a delegation from the Union of Manufacturers and Businessmen of Armenia (UMBA). UMBA currently chairs the Business Council of the Organization of the Black Sea Economic Cooperation (BSEC), and the participants presented the ambassador with the main objectives and mission of the organization, its role in economic integration within the region.

Artur Ghazaryan, Head of Programs at UMBA and Acting Secretary of the BSEC Business Council, shared one of the organization’s initiatives with the ambassador: a proposal to offer a specific discount on the transportation of goods from BSEC member countries through the Suez Canal. This initiative aims to boost cooperation in regional joint projects and enhance economic integration.

Ambassador Serenade Soliman Gamil welcomed any integration initiatives and expressed readiness to bring this matter to her country’s relevant authorities.

The meeting also touched on bilateral economic relations between Armenia and Egypt, highlighting promising sectors such as agriculture, tourism, pharmaceuticals, and construction. Ambassador Gamil noted that while political relations between the two countries are fairly strong, only a small portion of the existing potential is being realized in the economic sphere. Both sides emphasized the importance of strengthening connections between the business communities of Armenia and Egypt, enhancing cooperation between UIMBA and Egyptian business organizations, and promoting bilateral visits.

Hrayr Zoryan, the chief advisor to the president of UMBA, also attended the meeting.