Country Profile
From The Report: Egypt 2016
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Lying astride trade routes linking West, East, North and South, Egypt has long been at the heart of regional and global commerce. For the past century and a half, the Suez Canal has been a major conduit for international trade, including oil. Building on decades of leadership in the Arab world, Egypt is undergoing major governmental transformation in the aftermath of the 2011 revolution. Presidential and parliamentary elections in recent years have served to stabilise the country politically, reforming the constitution and the responsibilities and scope of Egypt’s leading institutions. While 2015 was characterised by greater political stability and growth, Egypt still faces challenges. Creating jobs and building homes for its growing population and improving living standards for the poorest are among the most pressing, and closely linked to stability in the long term.

This chapter includes interviews with President Abdel Fattah El Sisi; Carlo Calenda, Deputy Minister of Economic Development of Italy; and Ambassador David Thorne, Senior Advisor to the US Secretary of State. It also includes a viewpoint from Manuel Valls, Prime Minister of France.

Articles from this Chapter

Overview

Crossroads of civilisation: Egypt remains a centre for regional and global trade
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Located at a crossroads between Africa, Asia and Europe, Egypt remains one of the world’s most strategically important countries, as it has been for millennia. Lying astride trade routes linking West, East, North and South, Egypt has long been at the heart of regional and global commerce. For the past century and a half, the Suez Canal has been a major conduit for international trade, including oil. At once Arab, African and Mediterranean, Egypt has been home to great civilisations such as the…

Interview

Determined development: OBG talks to President Abdel Fattah El Sisi
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Interview: PresidentAbdel Fattah El Sisi How is the administration working to increase employment, especially among young people? Abdel Fattah ElSISI: Egypt’s greatest resource is its young people. They will be the engine of sustainable growth. We want our economy to maximise the potential of this resource through the generation of adequate and productive job opportunities. To this end, we are launching several labour-intensive mega-projects geared towards creating a dynamic platform…

Overview

Facing the future: The country is seeing a return to stability
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Building on decades of leadership in the Arab world, Egypt is undergoing major governmental transformation in the aftermath of the 2011 revolution. Presidential and parliamentary elections in recent years have served to stabilise the country politically, reforming the constitution and the responsibilities and scope of Egypt’s leading institutions. Albeit far from completed and still contending with domestic discourse, the changes have been a welcome effort in setting Egypt back on course. History Egypt’s…

Viewpoint

Privileged partners: Manuel Valls, Prime Minister of France, on bilateral relations
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Egypt’s determination to modernise its economy is very impressive. It has conducted robust reforms over the past year, most notably to offset the macroeconomic instabilities that affect the country’s development. The resumption of talks with the IMF is in this respect a particularly encouraging sign. Its resolve to offer a favourable business environment for entrepreneurship and investment is a formidable encouragement for the business community, and in particular for foreign firms that are interested…

Analysis

Regional relationships: Strategic ties underscore links with allies near and far
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Egypt lies at the heart of the Middle East and North Africa region and remains its most populous country and one of its largest economies. The country is of vital importance to regional and continental allies, with whom trade, investment, and security ties have seen growing relevance in recent years. Support & Investment Following the 2011 revolution, and again after the military takeover in July 2013, Egypt’s Gulf allies stepped in with funds and resources to support Egypt’s flagging economy…

Analysis

Along the river: Reaffirming collaboration and resource sharing along the Nile
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The importance of the Nile River to Egypt cannot be overstated. The river provides around 90% of Egypt’s water supply for the population of nearly 90m, and as Egypt looks to power up its agriculture sector, the water source remains as important as ever. Trade As of 2013, Egypt’s Central Agency for Mobilisation and Statistics (CAPMAS) counted nine countries as “Nile Basin” states: Sudan, Ethiopia, Uganda, Congo, Kenya, Tanzania, Rwanda, Burundi and Eritrea. South Sudan became independent…

Interview

Fresh prospects: OBG talks to Carlo Calenda, Deputy Minister of Economic Development of Italy
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Interview:Carlo Calenda How attractive is Egypt for Italian companies looking to enter domestic and regional markets? CARLO CALENDA: Egypt could serve as an ideal centre for Italian companies eager to tap into the potential of the East Africa region, given its geographical proximity to a number of African and Middle Eastern countries and the network of free trade agreements it has concluded with them. In June 2015 the leaders of 26 African countries – representing 48% of the African Union…

Interview

Sharing prosperity: OBG talks to Ambassador David Thorne, Senior Advisor to the US Secretary of State
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Interview:Ambassador David Thorne How is the US assisting Egypt in developing a more sustainable and inclusive economy? DAVID THORNE: Secretary Kerry entrusted me with promoting his “Shared Prosperity Agenda” which is premised on the belief that security, stability and prosperity are inexorably intertwined and envisions a greater role for economic diplomacy as a foreign policy tool. Given Egypt’s vital role in the region – it is its most populous nation and one of its largest…