Minister of Investment and Foreign Trade, Hassan El-Khatib, named Khaled Abubakr, chairman of TAQA Arabia, Egypt’s leading energy and utility provider, as the Chairman of the Egyptian contingent of the Egypt-Denmark Business Council.
The decision is the most recent development in the strategic partnership agreed upon by Egyptian President Abdel Fattah El-Sisi and Danish Prime Minister H.E. Mette Frederiksen in December 2024 to strengthen trade and investment relations between the two countries. The partnership aims to open new horizons for cooperation in key strategic sectors for both countries, including renewable energy—particularly wind power—sustainable agriculture, as well as maritime and trade logistics. In this context, Denmark has expressed a strong interest in investing in Egypt’s green transition.
The growing trade volume between Egypt and Denmark highlights the strength of their partnership. In the first ten months of 2024, bilateral trade reached $292 million, a notable increase from $240 million during the same period in 2023. This upward trend is expected to attract more foreign investment, supporting Egypt’s sustainable development initiatives.
Abubakr is not new to managing bilateral business councils. He served as the Chairman of the Italian-Egyptian Business Council for over 13 years, where he was instrumental in improving bilateral trade relations. For his efforts, he was awarded the Order of the Star of Italy by the Italian President.
In addition, Abubakr currently serves as Vice President of the International Gas Union (IGU) for the 2025–2028 term and is slated to become the IGU President for the 2028–2031 term to be the first Arab figure to hold this distinguished position.
In December 2024, the two nations signed a Joint Declaration elevating their relationship to a Strategic Partnership. This partnership emphasizes economic, trade, and investment collaboration, as well as strengthening ties between the private sectors of both countries. Key areas of mutual interest include shipping, maritime transport, clean renewable energy, and other sectors where Egypt presents significant opportunities for Danish businesses.
