Cairo: The African Cooperation Committee of the Federation of Egyptian Industries recently convened with representatives from C´te d'Ivoire's Cotton, Cashew, and Shea Council to explore new investment opportunities in agriculture-related industries.

According to State Information Service Egypt, the discussions focused on C´te d'Ivoire's plans to increase cotton production from 350,000 to 500,000 tons annually by 2025. The Ivorian representatives also highlighted the current cashew production capacity, which exceeds 1.5 million tons per year. The government of C´te d'Ivoire is aiming to process at least 50% of its raw agricultural products domestically and is offering tax incentives and designated investment zones to attract manufacturers.

The meeting also addressed the largely untapped potential of the shea butter sector, which produces 250,000 tons annually. Shea butter is used in both the food and cosmetics industries, with the potential to substitute cocoa content in chocolate. Egyptian investors were invited to partner directly with the Ivorian government to secure agreed volumes and ensure exports under contractual agreements.

Sherif El Gebaly, Chairman of the committee, expressed the federation's support for Egyptian companies aiming to expand into African markets, identifying C´te d'Ivoire as a promising destination for such ventures.