By Rana Yehia
The time has come for the Egyptian economy to take its deserved place in the world, especially after the recent Economic Summit in Sharm El-Sheikh. The summit had showed how much Egypt can cooperate with Mexico and Latin American states, said the Ambassador of Mexico to Cairo Jorge Alvarez Fuentes.
The private sector in both countries must look for available investment opportunities in Egypt and Mexico, Alvarez Fuentes said during the launch of Global Trade Matters conference named “Doing Business with Latin America” Tuesday in Cairo. He noted that the Mexican economy and its business environment have become more open to the world and encouraging for investment.
The ambassador clarified that Mexico has acquired experience in many economic sectors such as the transportation sector. Mexico now has capabilities in raw materials, components, designs and engines, as well as in small- and medium-sized enterprises.
The conference was held at the Global Trade Matters Center for Global Business Excellence, located in the Smart Village in 6th of October City. It included the ambassadors of Guatemala, Paraguay, Ecuador, Cuba, Peru, Panama and Venezuela.
“Egypt has a great investment environment and every country seeks its friendship. We hope to see Latin investments in Egypt during the next period, but that depends on how good the investment environment is provided by Egypt,” said Lars Pira, Ambassador of Guatemala and Dean of the Latin American diplomatic corps in Cairo in his opening speech.
Pira claimed that they witnessed efficient organisation at the Sharm El-Sheikh Economic Summit and that he believes everyone is willing to invest in Egypt. He, however, questioned if Egypt is ready to provide suitable investment environment.
The investor needs multiple factors to work in Egypt; on top of them is the restoration of security, Pira added.