Egypt promotes economic relations with EFTA
Egypt-European Union, Economics, 3/3/2001

The standard of living and purchasing power of the European Free Trade Association (EFTA) countries give them a great trade weight despite their low population, said Hamdi Metwalli, First Undersecretary of Economy and head of Egypt's delegation to the negotiations with EFTA.

In statements to Cairo Radio Thursday morning, Metwalli, head of the trade representation department, said that EFTA, which comprises a number of European countries nonmembers of the European Union (EU) like Norway, Switzerland and Iceland, is of great importance in terms of international trade.

On the difference between Egypt's partnership with Europe and its partnership with the EFTA countries, Metwalli said that the agreement, initialed by Egypt and the EU countries, is a full-fledged partnership agreement while the agreement with the EFTA countries comprises all trade and commodity issues as well as attracting these countries' investments into Egypt.

The draft agreement involves means to benefit from technical assistance provided by these countries for Egypt to refurbish the various economic sectors, particularly the agricultural and fish wealth sectors, in which Norway achieved great progress, said Metwalli.

He pointed out that Egypt lends the agreement with the EFTA countries a bird's-eye view, noting it is incomprehensible that Egypt should sign an agreement with the EU and ignore the important EFTA countries.

Signing a free trade agreement with these countries provides a chance for Egyptian agricultural and industrial commodities to the EFTA countries, he said.

Previous Stories:
  Egyptian European partnership agreement signing soon   (1/24/2001)
  European Investment Bank to finance infrastructure projects   (1/4/2001)
  Partnership with Europe ushers in economic liberalization   (9/23/2000)

Please add a link on your webiste pointing to ArabicNews.com and bookmark ArabicNews.com & subscribe to our daily email news bulletin.

Search