Industry minister confers with French envoy

Minister of Trade and Industry Tareq Qabil asserted that Egypt and France have established close strategic relations at the political and economic levels, highlighting the need for expanding such cooperation and increasing the volume of trade exchange and joint investments. 

The minister's remarks were made during his meeting with French Ambassador in Cairo Stefan Roumtier as they reviewed the future of economic cooperation between the two countries and the conditions of the current French investments in Egypt.

Qabil said the government is keen on luring more French investments to the Egyptian market to enable France benefit from the available investment opportunities and the distinguished strategic location of Egypt in marketing French companies' products in other Arab markets.

He also said the two sides agreed on intensifying official meetings with the aim of launching a new phase of economic and trade relations between Cairo and Paris.

The meeting also took up joint cooperation in the fields of small- and medium-scale enterprises so as to motivate the French companies operating in Egypt to extend its expertise to such sector, said the minister.

As per the volume of trade exchange, the minister said trade exchange has witnessed a notable progress during the period from January to August of the current year as its volume hit 1.546 billion euros, compared with 1.380 billion euros in the year before.

Egypt's exports to France increased by 21 percent to reach euros 401 million in the mentioned period compared with 332 million euros in the previous year, added the minister. 

The French ambassador, for his part, asserted that his country was keen on further expanding bilateral relations at all levels in the coming phase so as to serve the best interests of the two countries.

Source: MENA