UK companies could take advantage of opportunities in the Egyptian packaging sector, according to a delegation at the UK Africa Investment Summit 2020.
The food packaging sector in Egypt could potentially see a boom with population growth, extended growing seasons and its ability to provide easy access to major markets across Europe and the MEA.
A high-profile delegation of Egyptian officials are attending the UK Africa Investment Summit in London, hosted by Prime Minister Boris Johnson.
“In the words of an old Akan proverb that I picked up while I was in Ghana, ‘All fingers are not the same’. There is wisdom in these Akan proverbs. All fingers are not the same and all countries are not the same, and the UK boasts a breadth and depth of expertise that simply cannot be matched by any other nation,” said Johnson.
Among the sectors being discussed are engineering & electronics, packaging, agricultural processing, pharmaceutical and building (construction & material).
A spokesperson for the Egyptian delegation said the packaging sector is crucial to Egypt due to its inter-connecting role in a number of different industries including pharma, food processing, petrochemical etc.
“As well as benefiting from the growth of these industries the packaging sector will also witness growth in the production of raw materials as labor costs are becoming more competitive. This has encouraged Indian companies to inject capital into packaging and expand the production of raw materials, not to mention the attraction of investment from Saudi Arabia and the UAE, as well as early interest from some US companies.”
Read the full article via Packaging News here.