Egyptian-British talks to boost economic and banking cooperation
Egypt-UK, Economics, 5/17/2002

Members of the British trade delegation, under David Blatherwick, Head of the Egyptian-British Chamber of Commerce, met on Wednesday with members of Alexandria Chamber of Commerce under Mustafa Al Naggar.

The Egyptian-British talks dealt with means to promote cooperation between Egypt and Alexandria in the various economic, trade and service domains.

Taher El-Sherif, Secretary-General of the Egyptian-British Chamber of Commerce, said that the meeting between businessmen and investors of the Egyptian-British Chamber of Commerce and Alexandria Chamber dealt with means to activate cooperation in economic and banking domains as well as opening a new branch for the British Investment Bank in Alexandria.

Sherif also said that the British delegation included representatives of 16 major companies operating in the fields of electronics, financial consultancy, insurance, marketing, navigation equipment, petrochemicals and other economic and industrial activities.

On his part, Blatherwick praised the level of economic and trade relations between Egypt and Britain and said they were growing. He put at $ five billion the value of joint projects between businessmen in the two countries, expecting it to rise up to $ six billion after carrying out more joint ventures in the field of oil and gas.

The Head of British trade delegation pointed out that the volume of trade exchange between Egypt and Britain reached about one billion pounds sterling, adding that the trade balance between the two countries was almost equal.

He said that the British market is open to Egyptian goods of high quality. The British delegation met with Alexandria Governor Abdel Salam A1 Mahgoub and reviewed with him means to activate joint cooperation and investment chances available for Egyptian and British businessmen.

The delegation visited the Alexandria Library, toured its different departments and greatly admired its architecture and history.

Previous Stories:
  Egypt, Britain discuss ways of boosting oil, gas cooperation   (4/12/2002)
  $ 5 billion in British gas and oil investments in Egypt   (3/26/2002)
  Ebeid receives British industry minister   (3/21/2002)

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