New British - Egyptian companies
Egypt-UK, Economics, 2/11/2000

Jeremy Hanley, head of a British mission for trade and investment, said at the conclusion of the mission's visit to Cairo that there are offers to establish new British - Egyptian companies in the fields of fabrics, textiles and drilling for petroleum and others to run the economic free trade area in east Port Said city (Egypt) to which the British side contributes 60%, while Egypt contributes 40%.

He said other companies would work in maritime transportation, manufacturing foodstuffs, tourist projects, banks and insurance companies.

Hanley added to ArabicNews.com that there is an idea for establishing a holding company including all these activities and that an Egyptian delegation will visit London soon to make the executive steps to establish these companies to increase the cooperation between the two countries.

Meanwhile, a statement issued by the British embassy in Cairo today spoke of the entry of 400 British companies to Egyptian market during two years in the form of branch or joint projects including 92 contracting companies that work in the basic infrastructure field on roads, airports and harbors, in addition to companies in the financial, banking services and insurance markets.

The statement also said that British investments had entered the fields of petroleum and natural gas in addition to distributing food and household goods through merging the British grocer Sainsbury's with the Egyptian Edge, and that some new companies built 93 access points for distributing consumers products.

Previous Stories:
  $3 billion in British - Egyptian trade   (2/9/2000)
  Egypt's gates, wide open for world investments   (2/9/2000)
  Commencing Egyptian - British commercial talks   (2/8/2000)

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