ZAGREB, 19 Feb (Hina) - Energy, electrical engineering, construction, wood and defence industries are among the key sectors for strengthening economic cooperation between Croatia and Egypt, it was said at the Croatia-Egypt Business Forum in Cairo on Tuesday.
The event was organised by the Croatian Chamber of Commerce (HGK), which facilitated the participation of representatives from around 20 Croatian companies.
"Egypt is an important market for Croatia, with over 110 million residents offering numerous business opportunities for our companies," said HGK president Luka Burilović. He expressed confidence that Croatian companies in energy, electrical engineering, construction, wood, defence and other industries will establish valuable business connections and increase trade between the two countries.
In addition to intensified trade, Egypt has become a significant source of labour for Croatia, particularly in the construction sector, he said. Egypt was among the top ten countries providing foreign workers to Croatia last year. The number of work permits issued to Egyptian workers has surged from just 22 in 2020 to over 6,500 in 2024. Croatian construction companies recognise Egyptian workers as skilled masons, tilers and roofers.
Today, at the business forum, we are strengthening cooperation between entrepreneurs from our countries. We are proud of the ongoing cooperation between Egyptian and Croatian companies in the energy sector. Our company is constructing a platform in the Adriatic in collaboration with Croatian and Greek firms, and the Croatian company INA is involved in oil and gas concessions in Egypt," said Egyptian Prime Minister Mostafa Madbouly.
Agreement signed between the ports of Alexandria and Rijeka
Croatian Prime Minister Andrej Plenković said they signed three cooperation agreements today in the fields of culture and investment, as well as between the ports of Alexandria and Rijeka.
"Connecting the Suez Canal and the strategically significant Egypt with the Port of Rijeka, one of the deepest in the northern Adriatic, will strengthen Croatia's strategic position as a transport and energy hub in this part of Europe," said Plenković.
The HGK pointed out that the EU is Egypt’s most important trading partner, accounting for 25% of Egypt’s total global trade exchange. Egypt mainly exports fuels, ores, chemicals and agricultural products to the EU.
The Port of Rijeka already collaborates with Egyptian market clients, and its goal is to become the primary entry and exit point for Egypt in Central and South-Eastern Europe, said Board member Marko Mišković.
Elektroprojekt CEO Davor Paradžik said he expected B2B meetings to open new opportunities for cooperation on energy and infrastructure projects in Croatia and Egypt. He added that Croatian engineering expertise in sustainable technologies and energy efficiency could contribute to the development of both markets.
In addition to companies expanding and renewing cooperation, the delegation also included companies entering the Egyptian market for the first time. Among them is the Croatian company Tesla, which specialises in digital transformation in education and aims to establish relations with the Egyptian Ministry of Education.
"The solutions we develop are highly adaptable to user needs and are implemented at the level of an entire national education system. Our goal is to enable more efficient education management, both systematically and individually, treating it as a key investment in a country’s long-term economic development," said Tesla CEO Andrej Bezjak.
The trade exchange between Croatia and Egypt in the first ten months of last year reached nearly €140 million. Croatia has maintained a trade surplus for years, with exports growing steadily, except in 2021 and 2022, when imports, primarily of natural gas, significantly exceeded exports.
In 2023, exports reached €98 million, while in the first ten months of last year, they amounted to €90 million, reflecting an 8% increase compared to the same period the year before. Imports in the first ten months of last year totalled €48 million, marking an almost 20% rise compared to the same period in 2023. The total trade exchange in 2023 amounted to €145 million.
