A secure new maritime freight line between the port of Trieste and the Egyptian port of Damietta will speed up the transport of goods and create new investment and trade windows in key sectors like agribusiness, textiles and pharmaceuticals, under a deal signed in Cairo on Monday, Italy's foreign ministry said in a statement.
“With this agreement, we aim to strengthen Italy’s role as a privileged channel of trade in the Euro-Mediterranean region and to increase trade between Italy and Egypt," said foreign minister Antonio Tajani.
The agreement “will also be useful to open up new investment opportunities in Egypt for the Italian supply chain in priority sectors such as agribusiness and textiles," Tajani said.
Monday's accord is also in line with the strategy to bolster ties between Italy, Europe and Africa and can be seen as part of the government's 'Mattei Plan' to stabilise and propel Africa's development through equitable energy partnerships and wider cooperation, Italian trade agency president Matteo Zoppas said by videolink at the signing ceremony.
Italian products – especially agri-foodstuffs, pharmaceuticals and textiles – will be able to easily reach not only the Egyptian market but also African and Middle Eastern ones, thanks to the strategic geographical position of Egypt, gateway to a potential market of one billion consumers, Zoppa said, acccording to the statement.
Monday's agreement was signed by Italy's ambassador Michele Quaroni and Egypt's transport minister Kamel el Wazir, the statement noted.
