Cairo: Minister of Investment and Foreign Trade Eng. Hassan El-Khatib affirmed that the Egyptian government has succeeded over the past year and three months in achieving a major transformation in macroeconomic policies, encompassing monetary, fiscal, and trade policy reforms, in addition to redefining the role of the state in the economy. This was discussed during a meeting between Khatib and British Ambassador in Cairo Mark Bryson-Richardson, focusing on enhancing the strategic partnership between the two countries, reviewing progress in economic reforms aimed at attracting investment, and preparing for the upcoming Egypt-UK Investment Conference in December.According to State Information Service Egypt, the Minister noted that inflation rates have fallen to around 12%, demonstrating the success of economic policies in maintaining price stability despite global challenges. He emphasized ongoing structural reforms to the subsidy system to ensure financial sustainability and efficient resource allocation to those most in need. Khatib highlighted efforts to position Egypt among the world's top 50 countries in trade competitiveness indices, noting a significant reduction in customs clearance time and ongoing plans to remove non-tariff barriers.Khatib explained that a new trade policy focused on openness and regional partnerships, particularly with African nations, is being developed. He emphasized the government's commitment to avoiding increases in customs duties, upholding global trade rules, and supporting the free movement of goods and services. The trade deficit has been reduced to its lowest level since 2010, reaching around $30 billion, which Khatib attributed to effective structural reforms in trade and industry.He added that Egypt is strategically positioned as a hub for manufacturing and exports, aiming to double foreign direct investment through legislative and procedural reforms. Digital transformation is a key focus, with over 460 digital services launched through a unified platform, streamlining business processes and integrating government entities into a unified electronic system.Khatib affirmed ongoing efforts to build deeper economic partnerships with countries like the United Kingdom. The December investment conference will showcase reforms and present investment opportunities. Ambassador Bryson-Richardson expressed appreciation for Egypt's economic reforms and highlighted the importance of raising awareness within the British business community about Egypt's positive developments.The Ambassador noted that the investment conference on December 8 will spotlight success stories and showcase reforms. The UK is ready to expand cooperation in areas like customs, fintech, and renewable energy, aligning with Egypt's priorities. He also emphasized the UK's role as a strategic partner and highlighted opportunities for UK export financing and new projects in agriculture and trade to boost bilateral trade volumes.