Egypt and Latin American countries have common economic and social features indicated in the increasing economic growth rates and rich human resources base. In addition, Latin American countries and Egypt face common developmental challenges, which paves the way for better cooperation.
Egypt attaches great importance to Latin American countries emphasized in the openness of the Egyptian foreign policy to Latin American countries, highlighting the position that Egypt enjoys, being the pivotal country in its African and Arab surroundings. Egypt also plays an important role regarding international and regional issues and issues of common interest.
Egypt seeks to maximize investments with Latin American countries, as Egypt signed the preferential free trade agreement with the South American Economic Community (Mercosur) in 2010, which entered into force in 2017, including Argentina, Uruguay, Paraguay and Brazil. The Associate countries are Ecuador, Bolivia, Peru, Suriname, Chile, Guyana and Colombia. The Observer countries are New Zealand and Mexico.
In cooperating with Latin American countries, MCIT seeks to:
- Exchange the best experiences regarding digital transformation and integration and the use of communication and information technology in achieving sustainable development
- Promote capacity building and mutual benefit from the experiences of Latin American countries on a large scale to eradicate digital literacy and rehabilitate citizens in light of emerging technologies
- Exchange experiences in relation to smart cities and technological zones
- Coordinate positions regarding ICT issues at the international and multilateral levels, focusing on standardization issues
- Encourage investment by encouraging the private sector to establish regional centers of excellence in Egypt in the following areas:
- Research, development and innovation centers to develop embedded software focused on an industry, such as the automotive industry
- IT technical support centers, including technical support services
- Shared Service Centers (SSCs) and call centers by providing human resources, financial and accounting services, and procurement services
