The Philippines and Egypt are exploring opportunities to expand trade and investments, according to the Department of Trade and Industry (DTI). Philstar Biz reported the development, citing DTI Secretary Alfredo Pascual, who discussed potential partnerships with Egyptian officials during a recent virtual meeting.
Both countries aim to strengthen economic ties in sectors such as agriculture, manufacturing, and information technology. Egypt, a key market in the Middle East and North Africa, offers opportunities for Philippine exporters, including food products and electronics. In turn, the Philippines seeks investments from Egyptian firms in infrastructure and renewable energy.
The DTI said the exploration aligns with the Philippines' broader strategy to diversify trade partners and increase exports. No specific timeline or agreements were announced, but both sides committed to follow-up discussions and trade missions to accelerate the process.