Investment Minister Ashraf Salman asserted the importance of fostering joint investments and economic ties between Egypt and Australia, especially in light of the recent good indicators of Egypt's economy's performance.

He made the remarks during his participation in a round table organized by the Australian Embassy in Cairo and attended by about 30 investors, businessmen and representatives of a number of Australian companies that seek to invest in Egypt.

Secretary General of the Federation of Egyptian Chambers of Commerce (FEDCOC) Alaa Ezz was also present at the event.

Australian Ambassador to Egypt Neil Hawkins said the main aim of this meeting is to bolster bilateral cooperation and strengthen economic, trade and educational relations, calling for making good use of the distinguished geographical location of the two countries.

Hawkins hailed the political stability that Egypt witnesses nowadays, especially after completing all commitments of the political road map.

The Egyptian minister pointed to the recent reform measures taken by the government to eliminate the red tape to attract more foreign investments.

The private sector could play a key role to achieve development in various fields and help provide the suitable atmosphere for it, Salman underlined.

A number of projects expected to be implemented in sectors of food industries, education, training, mining and financial services were also discussed in the meeting.

Furthermore, they touched on projects of the Suez Canal Development Corridor.

Egypt has a diverse economy and several free trade agreements with many world countries as it enjoys high rates of return on investment, according to Salman.