Cairo: Egypt's Minister of Investment and Foreign Trade, Mohamed Farid Saleh, emphasized the nation's dedication to promoting green investments and integrating its market with global financial centers. This initiative aims to support the transition toward a sustainable economy and enhance the competitiveness of Egyptian products, particularly those that are energy-intensive.

According to State Information Service Egypt, Saleh's remarks came during a meeting with Rachel Kyte, the UK Special Representative for Climate, where they deliberated on enhancing bilateral cooperation in sustainable investment and clean energy. This dialogue is in anticipation of the forthcoming launch of a green growth partnership between Egypt and the UK in June.

During the meeting, Saleh stressed the need for fair standards to measure carbon footprints, aligning with international benchmarks while preserving the competitiveness of Egyptian exports. The minister also discussed the state's efforts to activate the voluntary carbon market and connect it to global markets. Additionally, he highlighted the development of a renewable energy certification system.

Saleh further detailed the state's initiatives to create a unified national registry for climate projects and support mechanisms for issuing renewable energy certificates and carbon credits. These initiatives aim to lower operational costs and increase market efficiency.

The discussions also explored ways to provide concessional financing to support industrial transitions towards green hydrogen and clean technologies. Both parties emphasized the importance of building technical capacities and developing centralized databases for project developers to facilitate investment attraction.

Rachel Kyte reiterated the UK's commitment to supporting Egypt's green growth efforts, acknowledging the country's potential to emerge as a regional hub for energy and investment. Saleh also mentioned the government's ongoing efforts to improve the business environment and offer investment incentives, including the 'Golden License,' to attract more sustainable investments.