Egypt is strategic partner of Spain

Spanish Secretary of State for Commerce Maria Luisa Poncela said on Monday that Egypt is a strategic partner of Spain and is an investment-magnet country as it is one of the biggest Arab and African markets.

Poncela renewed her country's full support of Egypt in regaining political stability and building a strong economy.

Poncela, speaking after the opening of Spain-Egypt Multilateral Partnership forum, expressed appreciation of Egypt's efforts to create an investment-magnet climate, congratulating the Egyptian government over its deal with the International Monetary Fund that deeply mirrored international institutions' trust in Egypt.

She expressed her country's readiness to cooperate with Egypt in different projects, including the Administrative Capital and the industrial zone of the Suez Canal.

She noted that Spanish exports to Egypt increased by 27 percent over the past years, which reflect Madrid's interest in boosting economic cooperation with Egypt.

She cited Spanish partnership with Egypt in different projects, including the high-speed train project between Aswan and Cairo, wind plants at Suez Gulf, gas liquefaction station in Damietta and water desalination plants in Upper Egypt.

Source: MENA