The Czech Minister of Foreign Affairs, Jakub Kulhánek, announced that financial institutions and banks in the Czech Republic have started helping companies to inject new investments into the Egyptian market and boost bilateral trade between the two countries.
The Czech Export Bank approved injecting $300 million into the Egyptian market, representing 75% of the current volume of the Czech products in the North African nation, Kulhánek said in a statement by the Egyptian Ministry of Foreign Affairs on Sunday.
The current major projects in energy, construction, recycling, water management, and transportation development have made the country an attractive market for all international companies, Kulhánek added.
Egypt is looking to improve bilateral trade with the Czech which exceeded $530 million with an average growth rate of 15% over the last six years, President of the Federation of Egyptian Chambers of Commerce, Ibrahim Mahmoud El-Arabi, said.
He added that the Czech has invested $54 million in 48 companies in Egypt.
