Agnès Pannier-Runacher, French Minister of State, attached to Ministry of Economy and Finance along with Egypt’s Minister of Trade and Industry, Amr Nassar, will co-head the annual meeting of Egypt-France Business Council (EFBC) in Cairo on Monday, during French president Emmanuel Macron’s current visit to Egypt, Fouad Younis, EFBC’s chairperson said.
Younis told Daily News Egypt that the meeting will be held in the presence of about 40 businesspersons, explaining that, “about 25 companies of the French delegation accompanying Macron will likely attend the EFBC’s annual meeting too.”
“Subjects such as boosting French investments in Egypt in digital fields, financial services, retail, energy and others will be discussed,” Younis noted, adding that possible cooperation of French companies with Egyptian partners in Africa are included over the meeting agenda.
Younis elaborated that opportunities of cooperating in the renewable energy sector as well as automotive areas will be discussed, noting that a French-Egyptian business forum will be held on Monday afternoon when several cooperation agreements and MoUs will be inked between private sector and private sector of both countries as well as governmental agreements.
The EFBC was first established in 2006, including about 20 Egyptian members and 20 members from the major French firms’ chairpersons, but years after, the EFBC’s role was reduced which drove Younis to discuss the possibilities of increasing cooperation and supporting the council to further enhance economic relationships between both countries.
Egyptian members of the EFBC meet on a monthly basis to discuss the latest updates of the economic cooperation.
“France is very keen on working in Alexandria. We discuss the possibilities of operating a maritime line between Marseille and Alexandria or establishing a French industrial zone in Alexandria. France is also financing the development of a tramway network in the city,” Younis told DNE on 12 July 2018.
French companies feel that this is the right time to invest in Egypt, especially after the economic reform, Investment Law, and the exerted efforts by the government to solve issues that face local and global investors, he mentioned.