4th Egyptian -Cypriot committee session protocol signed
Egypt-Cyprus, Economics, 3/25/2002
Egyptian Minister of Foreign Trade Youssef Boutros Ghali and Cypriot Minister of Trade, Industry and Tourism Nicos Rolandis signed Sunday the protocol of the fourth session of the joint Egyptian Cypriot committee to open fresh vistas of trade, investment, tourist and industrial cooperation.
Emerging from the signing ceremony, Ghali said relations between the two countries will see a strong impetus in the various fields in the upcoming period.
Al-Sa'ed Qassem, Foreign Trade First Undersecretary and Head of the Egyptian Trade Representation Authority, said Ghali asked the Authority to organize a symposium on vistas of investment in Egypt on the sidelines of the Egyptian pavilion in the Cyprus international fair, to be held next May.
The pavilion is witnessing an intensive participation on the part of Egyptian companies to acquaint the Cypriot market with the Egyptian products and market them in other European countries, said Qassem.
On his part, trade commissioner Amin Sabri, Director of the Authority's Europe Department, said Ghali and Rolandis reviewed the Cypriot investments in Egypt.
He added that joint ventures between the two countries until mid-2000 numbered 16, with a combined capital of LE 110 million.
The most important of these projects are in the fields of chemicals, engineering, hotels and tourist villages, said Sabri, noting that the fields of rice milling, brick production and tourism as currently under discussion.
He said that Minister of Agriculture Youssef Wali discussed with the visiting Cypriot delegation means to attract Cypriot investments to set up fish farms in Egypt.
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