Egypt and Belarus Sign MoUs to Boost Trade, Investment

May 1, 2024 Hour: 1:57 pm

On Tuesday, Egypt and Belarus signed a cache of memorandums of understanding (MoUs) to promote bilateral trade and investment.

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The signing ceremony was held in Egypt’s new administrative capital with the attendance of Egyptian Prime Minister Mostafa Madbouly and his Belarusian counterpart Roman Golovchenko, the state-run Ahram Online news website reported.

During the ceremony, the Egyptian Customs Authority and the Belarusian Ministry of Antimonopoly Regulation and Trade signed an agreement to enhance the mutual trade system between the two countries.

The agreement aims to protect and develop the economic interests of both countries and enhance the efficiency of customs control over goods and vehicles exchanged between them, according to the report.

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The two countries have also signed an MoU for bilateral cooperation in boosting investment.

Under the agreement, relevant authorities in Egypt and Belarus will encourage the sharing of information on investment opportunities, laws, regulations, and policies, making them available for businesses on both sides.

In addition, the two sides inked an agreement to promote bilateral cooperation in the capital market, particularly aimed at enhancing investor participation by facilitating technical collaboration in the securities exchange market, futures contracts, and other investment product markets, the report noted.

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