On February 27th, Ambassador of the Republic of Latvia to Egypt Iveta Šulca met with the Social representatives of the Investment and Development Agency of Latvia (IDAL) Gamal El Aguizy and Laila Maghraby, and the Latvian Chamber of Commerce and Industry Representative (LCCI) in Egypt Omar El Derini.
During the meeting, the parties discussed the annual activity plan. Preparations are being made for the Egyptian businessmen’s delegation visit to Latvia.
The Representatives encouraged Latvian IT companies to offer solutions for Egypt's e-payment card. The new national e-payment card Meeza (meaning “merit” in Arabic) was released last December through the National Bank of Egypt (NBE) and Banque Misr and gradually is being introduced into other Egyptian banks. Meeza is the latest financial inclusion initiative by the Central Bank of Egypt (CBE) to push towards cashless payments in Egypt.
Representatives informed about their intention to establish the Latvian Egyptian Business Council. Ambassador Iveta Šulca welcomed the initiative, stressing that trade volumes between Latvia and Egypt continue to grow and it is necessary to establish a solid business structure in place to support business cooperation between the two countries. Ambassador agreed to get in contact with the Egyptian Ministry of Trade and Industry and to discuss the establishment of the Council.