Egypt, Austria explore economic cooperation
Egypt-Austria, Economics, 4/16/2002

Egyptian Prime Minister Atef Ebeid yesterday discussed means of bolstering trade and economic ties with Austria during a meeting with an Austrian federal economic delegation.

The Austrian team, headed by the chief of the Austrian Federal Chamber of Commerce Jorgen Schrider, comprised representatives of 13 major companies and banks.

The chief Austrian delegate told reporters following the meeting that his talks with the Egyptian premier tackled ways of increasing the volume of bilateral trade as well as attracting more Austrian investments into Egypt.

The talks also discussed ways of enhancing Egyptian exports to the Austrian market, Schrider said.

He praised the investment atmosphere in Egypt, adding that his country was eager to train Egyptian experts on export and investment promotion in several Austrian companies.

In a related development, Foreign Trade Minister Youssef Boutros Ghali yesterday held talks with an Austrian business delegation and tackled possible fields of new Austrian investments in Egypt.

Ministry sources said that the Austrian delegation was eager to explore vistas of investment in various agricultural and industrial fields in Egypt.

"Minister Ghali highlighted during his meeting with the Austrian team the importance of the role played by the General Authority for Investments (GAFI) as well as the efforts by the ministry to encourage foreign investments and boost Egyptian-Austrian trade relations," the sources said.

"The meeting also reviewed the incentives offered by the government to foreign investors to streamline their operations and maximise their profits," the sources said, adding that participants also probed possible joint ventures in new industrial cities or duty-free areas.

The Austrian business delegation, also expected to meet with Prime Minister Ebeid, held talks on Sunday night with Egyptian counterparts. The 16-member Austrian delegation is also planned to meet Minister of Industry Ali al-Saidi and GAFI chief Mohammed el-Ghamrawi to discuss bilateral cooperation.

Previous Stories:
  New vision on Egypt-Austria economic cooperation   (4/16/2001)
  An Austrian plan for investment in Egypt   (4/21/2000)
  An economic Austrian delegation visits Egypt today   (4/11/2000)

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