Spain-Egypt Multilateral Partnership forum kicks off in Cairo

The Spain-Egypt Multilateral Partnership forum kicked off earlier Monday in Cairo under the auspices of the Ministry of Trade and Industry.

Trade Minister Tarek Qabil, his Spanish counterpart Maria Luisa Poncela, the Spanish ambassador to Egypt along with a delegation of Spanish businessmen are present at the meeting.

Since 2011, Egypt has faced massive challenges that affected its political, social and economic situation, Qabil said during the inauguration of the “Egyptian-Spanish partnership” conference.

President Abdel Fattah El Sisi outlined a roadmap to restore political stability in the country, Qabil noted, highlighting the economic reform program that was adopted in 2016 to achieve reform through four key axes; infrastructure, financial institutions, governance and economic regulations.

The minister shed light on progress achieved in all fields over the past few years, including the breakthrough in establishing roads that stretch across 5,000 km, Suez Canal expansion, establishing three new cities, liberalizing the exchange rate as well as endorsing a new investment law.

Meanwhile, Qabil highlighted the strong relations binding Egypt and Spain, pointing out to the aspiration of both sides to boost the economic relations along with the existing trade exchange which stands at dollars two billion.

Citing the one billion dollars two-way investment, Qabil emphasized Egypt’s promising investment opportunities for those seeking investments abroad.

Source: MENA