Egypt abides by peace, supports anti -terrorism campaign
Egypt, Politics, 10/22/2001

Egyptian Prime Minister Atef Ebeid yesterday opened the Arab-German economic conference with as many as 400 businessmen from Egypt and other Arab and foreign countries participating.

Ebeid, in his inaugural speech, said that Egypt is committed to the establishment of peace in the Middle East and efforts combating terrorism.

Egypt is also abiding by the international initiative on exchanging information about sources of terrorism, noted Ebeid, adding that Egypt is against any political party based on religious discrimination.

The conference is held by the Arab-German Chamber of Commerce and Industry on the occasion of its 50th Anniversary in Cairo.

Egypt said that the Egyptian Parliament will ratify over the coming few months the Egyptian-European partnership agreement, initialed recently.

"Egypt is working for modernizing its administration methods through improving education and training along with getting modern technology in an attempt to eliminate red-tape and attract more investments into Egypt," he said.

"Egypt is a foreign investment-attracting country," he said, citing favorable conditions and privileges available for business people.

He confirmed that Egypt is keen to promote economic cooperation with Germany which he described as a key partner to Egypt's development and economic reforms.

Ebeid said that the Egyptian government was exerting tremendous efforts to achieve a real progress in the industrial sector through long-term plans with the aim of surveying the current productive capacities and factories for modernizing them.

Ebeid said that some 22,000 factories were built during President Hosni Mubarak's era.

"Despite the current conditions, hundreds of German businessmen were keen on coming to Egypt to attend proceedings of the Egyptian-German economic conference, which confirmed the German companies' keenness on boosting their presence in the Egyptian markets and promoting cooperation with Egyptian businessmen," added Ebeid.

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