RIYADH: Egypt is urging its African neighbors to meet ahead of COP27 to coordinate a position on climate and energy. Meanwhile, the new Indian wheat shipment is seen complying with the required standards signaling good news in light of the Russia-Ukraine war. The North African country is also working with Libya to bolster trade ties.
- Egypt has invited African countries to attend a session on climate and energy in an attempt to consolidate the continent’s position ahead of the UN climate conference, COP27, to be held in November 2022, local newspaper Egypt Today reported.
- The new Indian wheat shipment to Egypt has been reported to be in compliance with the required standards, Egypt Today reported. The North African country has selected India to be its new wheat supplier to curb the effects of the war between Russia and Ukraine.
- Libya’s central bank has announced that it will permit local banks to receive land shipping documents to import Egyptian goods through Musaid crossing. Both countries have agreed to boost trade exchange with each other, Egypt Today reported, citing Mukhtar Al-Tawil, the director of the banking supervision and monetary department at the Central Bank of Libya.
- The sixth “Egypt Can by Industry” conference is set to tackle artificial intelligence, digitalization, and programming, Egypt Today reported, citing the country’s minister of immigration and Egyptian expatriate affairs. The conference will also discuss the technology industry on a local level, how to deepen it and ways to promote it.
- The Central Bank of Egypt has said it has joined the international green financial system network, local newspaper Youm 7 reported. This falls in line with the country’s goal to achieve sustainable development as well as further pushing the role of the banking sector toward backing the green economy and applying global practices in the field.
- The country’s trade deficit reached $2.7 billion in February, down from $3.82 billion in February 2021, local newspaper Youm 7 reported, citing the Central Agency for Public Mobilization and Statistics. This figure reflects a 29.4 percent drop when compared to the corresponding month a year earlier.