Egypt and Tunisia have signed a significant Memorandum of Understanding (MoU) aimed at strengthening their respective small and medium-sized enterprise (SME) ecosystems. The agreement was formalized in Cairo between Egypt’s Micro, Small, and Medium Enterprises Development Agency (MSMEDA) and Tunisia’s Ministry of Employment and Vocational Training. The signing ceremony was attended by Egyptian Prime Minister Dr. Mostafa Madbouly and the Head of the Tunisian Government, Ms. Sara Zaafarani, underscoring the strategic importance of the collaboration.
Fostering A Culture Of Self-Employment
A key pillar of the agreement is the joint effort to cultivate a vibrant entrepreneurial culture, particularly among the youth in both nations. The MoU facilitates the exchange of technical expertise and the implementation of shared training programs designed to equip aspiring entrepreneurs with the skills needed to establish and manage successful startups. Furthermore, the partnership will support the creation of business and technology incubators, providing a structured environment for innovators to transform their ideas into commercially viable projects.
Expanding Market Access and Export Opportunities
The collaboration is set to open new commercial pathways for SMEs by focusing on enhanced market access. Plans include organizing joint exhibitions to showcase products from both Egyptian and Tunisian businesses, thereby creating direct opportunities for trade and networking. By exchanging expertise in marketing and promotion, the initiative aims to help these enterprises expand their reach into new regional and global markets, aligning with national goals to increase exports and enhance the competitiveness of local products.
A Strategic Push For Regional Integration
According to Basil Rahmi, CEO of MSMEDA, this MoU represents a significant step in reinforcing economic ties and promoting trade integration between Egypt and Tunisia. The agreement is part of a broader Egyptian state strategy to enhance regional and international partnerships in the vital SME sector. By pooling resources and knowledge, both countries aim to create sustainable employment opportunities, drive economic development, and solidify their positions as key players in the regional entrepreneurial landscape.
About MSMEDA
The Micro, Small, and Medium Enterprises Development Agency (MSMEDA) is the official Egyptian body dedicated to the development and support of the SME sector. It works to implement policies and programs that provide financial and non-financial services to entrepreneurs, with the overarching goals of fostering a culture of self-employment, creating sustainable job opportunities, and contributing to the comprehensive economic development of Egypt.
Source: Banker News
