Ebeid receives British industry minister
Egypt-UK, Economics, 3/21/2002

Egyptian Prime Minister Atef Ebeid yesterday received Brian Wilson, the British Minister of Industry and Energy currently on a visit to Cairo.

Following the meeting Wilson said his discussions with Ebeid had covered enhancing cooperation with Egypt particularly in the textile industry, food processing and petrochemicals.

He cited major British investments in oil and natural gas in Egypt.

Three major British petroleum firms have said they would invest $ 5 billion in the Egyptian oil sector during the coming five years, said a senior British oil official.

In press statements following a meeting yesterday Wilson said Egypt and Britain share close cooperation in petroleum and energy.

He underlined British keenness on boosting cooperation ties as the total investments in oil and gas hit so far $ 15 billion.

The meeting was held at the British ambassador's residence with Minister of Petroleum Sameh Fahmi.

The British official praised the investment-friendly atmosphere in Egypt and highlighted keenness on furthering investment and trade links.

"Britain is the largest foreign investor in Egypt and is ready to import natural gas from Egypt", he added.

On his part, Fahmi said there are several liquefied gas projects in the coastal cities of Alexandria and Rashid.

Previous Stories:
  UK confident about Egypt's investment climate   (3/20/2002)
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