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Egypt discusses bilateral trade, joint investments with African ministers - Daily News Egypt

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Egypt discusses bilateral trade, joint investments with African ministers

Cairo will host meetings in September to discuss investment opportunities in Egypt, says Abdel Nour


By Shaimaa Elise and Nehal Mounir

Ministry of Industry and Foreign Trade discussed with Mukhisa Kituyi, Secretary General of the United Nations Conference on Trade and Development (UNCTAD), the means of technical support that can be offered to Egypt during the coming period.

Minister of Industry and Foreign Trade Mounir Fakhry Abdel Nour said the government has decided to establish a specialised ministry for technical education to raise workers’ efficiency and increase productivity. UNCTAD is working to increase trade and development opportunities available to developing countries.

During the meetings with the minsters and delegations of African countries, Abdel Nour met with Rob Davies, South Africa’s Minister of Trade and Industry. The pair discussed the importance of strengthening bilateral trade and joint investments between the two sides during the next phase.

Abdel Nour added that a delegation of South African businessmen is scheduled to visit Egypt in the coming months. Cairo will host meetings in September to discuss investment opportunities in Egypt, which represent opportunities and promise for investors South Africa.

Abdel Nour noted that these projects include the Suez Canal Axis and the Golden Triangle project, especially since South Africa has large experience in the field of mining.

The total trade exchange between Egypt and South Africa amounted to $76.6m during the first quarter (Q1) of 2014, according to trade agreements sector at the Ministry of Industry.

The Egyptian imports from South Africa amounted to $22.4m, while the volume of Egyptian exports to South Africa amounted to $54m.

Abdel Nour agreed with Zimbabwe’s Minister of Commerce and Industry Michel Bimha to send an Egyptian businessmen’s mission to visit Zimbabwe in September. The mission would study the available investment opportunities in the establishment of industrial zones, infrastructure, food security and pharmaceutical industry.

In addition, Abdel Nour held meetings with Madagascar, Mauritius and the Democratic Republic of Congo to discuss increasing the trade balance, exports and imports, and providing technical assistance and training for African countries.

 

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https://dailyfeed.dailynewsegypt.com/2015/06/09/egypt-discusses-bilateral-trade-joint-investments-with-african-ministers/
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