Egyptian European partnership agreement opens new marketing vistas
Egypt-European Union, Economics, 6/16/2001

Egyptian President Hosni Mubarak will review tomorrow at an expanded ministerial meeting tomorrow the file of Egyptian European partnership agreement in its final form and a programme for modernizing Egyptian industry.

This came in a statement by Prime Minister Atef Ebeid, who added that Egyptian European partnership agreement would open up wider vistas for marketing , apart from integration into big and important economic entities.

He said the agreement would also provide Egypt with a chance to establish a free trade zone with European Union.

The Prime Minister said the expanded ministerial meeting which will be chaired by the President will discuss proposals for providing the funding necessary for modernizing industrial facilities in cooperation with European Union.

He said the industrial modernization programme will cover 1500 industrial facilities in the sectors of spinning, weaving, ready to wear clothes, furniture, foodstuffs, household appliances, building materials and cars.

President will also review a timetable and executive measures for modernizing the state's industrial, agricultural and productive sectors in addition to developing government performance through a strategy which will be carried out along a period of 10 years.

The meeting will also review the agreements signed by Egypt with each of Jordan, Tunisia and Morocco.

On his part, Ahmed A1 Darsh the Minister of Planning and State Minister for International Cooperation said the Egyptian European partnership agreement provides an opportunity for developing mechanisms of the Egyptian economic sectors, indicating that the agreement will provide, in the medium and long terms, a number of important benefits for reactivating the economic sectors and enhancing their competitiveness.

He said the agreement will also help attract more investments and introduce new technologies and industries through accelerating growth rate.

A1 Ahram learnt that the cabinet under Prime Minister Atef Ebeid will review this week five working files including the state plan for establishing new airports (nearly 30 airports) in the upcoming 10 years.

Besides these files,the cabinet will also review a banking insurance plan.

President Mubarak is due to discuss at a ministerial meeting to be held within days the working papers for modernizing the banking sector in the light of the agreement to be reached with banking officials.

The meeting will also discuss obligatory insurance for the Egyptians working abroad in the light of the working paper to be submitted by the ministerial committee which has been formed under a cabinet decree.

The cabinet will also review a programme for providing jobs for youth. Ebeid will also preside over an important meeting this week for discussing the loan offered by Bank Misr for merging the bank of commerce and credit.

Previous Stories:
  Egypt plays an active role in the European Bank for Reconstruction meetings   (5/9/2001)
  Mubarak meets EIB Chairman   (4/11/2001)
  European Investment Bank extends two soft loans to Egypt   (4/10/2001)

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