Egypt is set to enhance its support for small and medium-sized enterprises (SMEs) and entrepreneurship through a new partnership with Australia. The collaboration was announced following a meeting in Cairo between Dr. Badr Abdel-Aty, Egypt’s Minister of Foreign Affairs, and Anne Aly, Australia’s Minister for Small Business and International Development.
The agreement aims to facilitate the exchange of expertise between the two nations, leveraging Australia’s established experience in fostering a vibrant SME sector to strengthen Egypt’s burgeoning startup ecosystem.
Leveraging Global Expertise for Local Growth
During the meeting, Minister Abdel-Aty highlighted the Egyptian government’s recent economic reforms designed to improve the business environment and empower the private sector. He emphasized the critical role of SMEs in job creation and driving the national economy.
The partnership with Australia is seen as a strategic move to create a more supportive environment for entrepreneurs. By adopting best practices and proven models from Australia, Egypt aims to accelerate the growth of its own small businesses and startups.
Fostering Innovation Through Institutional Cooperation
The collaboration will focus on tangible programs, including institutional training and cooperation between government bodies and educational institutions in both countries. Key areas for knowledge exchange include integrating SMEs into global supply chains, enhancing educational frameworks for entrepreneurship, and promoting innovation and technology adoption.
This structured cooperation is intended to provide Egyptian entrepreneurs and SMEs with the practical skills and networks needed to scale their operations and compete on a larger stage.
Attracting Strategic Investments
Beyond knowledge sharing, Egypt is actively seeking to attract Australian investment into several high-priority sectors. Minister Abdel-Aty identified key areas for potential investment, including minng, clean energy and green hydrogen, water management, and the development of drought-resistant agricultural crops.
Egypt’s strategic geographical location and institutional capacity position it as a pivotal hub for regional economic and development programs, particularly across Africa and the Middle East. The discussions also touched upon trilateral cooperation between Egypt, Australia, and African nations to build institutional capabilities through the Egyptian Agency of Partnership for Development.
About The Ministry of Foreign Affairs
The Egyptian Ministry of Foreign Affairs is the government body responsible for conducting the nation’s foreign relations. It manages Egypt’s diplomatic missions, negotiates treaties and agreements, and represents the country’s interests on the international stage, including fostering economic and developmental partnerships.
Source: Shorouk News
