Egypt, Philippines to establish business council by end of 2016

The Philippines is expected to be the sixth-fastest growing economy in the world, according to the British Knight Frank consultancy and a Citi Private Bank report in 2012. Ever since 2010, the country has been undergoing multi-sectoral reforms. This year, the Philippines is celebrating 70 years of relations with Egypt, along with its 118th anniversary of independence.

In May 2014, the Federation of Egyptian Chambers of Commerce signed a Memorandum of Understanding (MoU) on trade cooperation with the Philippine Chamber of Commerce and Industry. This followed an MoU on tourism cooperation and a visa waiver agreement for holders of diplomatic passports between the foreign ministers of both countries.