On 17 March Latvian Ambassador Iveta Šulca met the Chairman of the Egyptian Business Council for International Cooperation Mr. Motaz Raslan and discussed the ways of intensifying business cooperation between Egypt and Latvia.
Chairman informed about the member companies' interest to travel to Latvia on a business mission this summer, adding that seeing is believing. ICT, pharmaceuticals, construction materials, food products, engineering solutions were mentioned among economic sectors of interest for cooperation.
Ambassador welcomed the initiative and stressed, that Latvia today is working to become first country in Europe to introduce 5G internet. Innovative technologies and ICT solutions developed by Latvian companies can be of great interest to Egypt. She added that the World Bank has recognized Latvia among 30 leading countries of the world, which have done significant reforms in improving environment for entrepreneurship. Latvia is a member of the European Union since 2004 and a member of the Eurozone since 2014. Last year imports from Egypt increased by 40% and Latvian exports to Egypt by 30%, reaching 73,5 million Euros.