Trade & Investment
Egypt
On 5 December 2020, the UK & Egypt signed a new bilateral Trade Agreement. The UK-Egypt Association Agreement provides continued preferential access to both markets and replaces the EU-Egypt Association Agreement from 1 January 2021.
Egypt’s fast growing, young population of 90 million, diverse and expanding economy, and strategic location linking the Middle East, Europe, Africa and Asia make it an ideal global business hub. At 27 million, Egypt’s labour pool is the largest in the region, consisting of a well-trained, highly educated and competitive workforce in a variety of sectors.
As an added incentive, a basket of beneficial trade agreements including GAFTA and COMESA provide the country with favoured access to regional growth markets. Egypt’s new free trade agreement with the UK means that UK companies trading with Egypt are exempt from tariffs on industrial products. Many already benefit; in 2015 the value of UK exports to Egypt reached £1.1 billion. In addition, the numerous free zones around the country support Egypt-based manufacturing hubs for SME’s and multinationals.
There are abundant opportunities for UK business to get involved in sectors such as energy, renewables, construction & infrastructure, retail, transport and many others. Egypt is entering a period of political and economic stability; a reform-minded government has embarked on an ambitious programme to stimulate the Egyptian economy by launching several major projects involving both the public and private sector, such as the Suez Canal Economic Zone, the Capital Cairo, the Golden Triangle Mining project, the North Coast Al Alamein development and the Damietta Grain Hub. Now is the time to do business with Egypt!
United Kingdom
On 5 December 2020, the UK & Egypt signed a new bilateral Trade Agreement. The UK-Egypt Association Agreement provides continued preferential access to both markets and replaces the EU-Egypt Association Agreement from 1 January 2021.
More companies locate their business in the UK than anywhere else in Europe. The UK is the world’s 6th biggest economy, hosts its thriving financial capital and is the 6th largest manufacturing nation.
International companies locate themselves in the UK because the want access to new or existing customers, develop new products, or find new suppliers and partners. The UK also has free or preferential trade agreements with many non-EU countries, including Egypt: UK-Egypt Association Agreement.
The UK has the most competitive and business friendly tax system of the major European economies, according to the World Bank. It has double taxation agreements through treaties with other countries, including Egypt.
The UK is a magnet for global brands. 40% of the world’s top 250 companies locate their HQ in London. It also has the strongest R&D in Europe. The UK furthermore has Europe’s largest aerospace, ICT, creative and life science industries. Its industrial versatility and large consumer market means there are abundant opportunities for foreign companies in a wide range of sectors. With a highly skilled workforce, flexible labour market and regulations designed to protect employees, the UK is a great place to set up your business.