Alghabra discusses with Egyptian Amb. commercial relations
Canada’s Transport Minister, Omar Alghabra, met, on Monday, with Egyptian Ambassador in Ottawa, Ahmed Hafez.
The meeting dwelt with issues of common interest, such as people to people ties and growing bilateral commercial relations.
Two-way trade between Canada and Egypt has been growing in recent years and in 2021 totalled $1.91 billion. Canadian exports to Egypt were $627 million in 2021 and top Canadian merchandise exports to Egypt were iron, oil seeds, and aircraft parts.
Canada is one of the largest investors in Egypt, with Canadian companies operating in various sectors such as mining, agriculture, and energy. The two countries signed a Foreign Investment Protection and Promotion Agreement (FIPA) in 2010, which provides Canadian investors with greater protection and guarantees against expropriation and other forms of political risk.
Egypt is a popular destination for Canadian students studying abroad, with many Canadian universities offering study abroad programs in Egypt. Similarly, many Egyptian students pursue higher education in Canada. The two countries have also collaborated on various education initiatives, such as teacher training and curriculum development.
Canada and Egypt have worked together to combat terrorism and other security threats in the region. In 2016, the two countries signed a memorandum of understanding on counter-terrorism cooperation, which included measures such as information sharing and capacity building.