The ongoing economic conference in Sharm el Sheikh has launched a new coalition and a powerful economic power on the map of the economic alliances in the region, Chairman of the General Authority for Investment and Free Zones (GAFI) Hassan Fahmy said.
Egypt, Saudi Arabia and the United Arab Emirates are the spearhead of this alliance which may be last at least for the coming 10 years, Fahmy said in statements on the sidelines of the Egypt Economic Development Conference (EEDC).
Fahmy said that the gathering also identified the European Union countries and Russia as partners of the alliance.
All were racing in supporting Egypt after they felt its seriousness and keenness on advancing and leaping anew.
He stressed that the positive steps taken by the Egyptian government and the state to make the conference a success reassured the investors.