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The biggest Mexican businessmen are in Cairo
Egypt, Economics, 9/1/1997
A delegation of Mexican businessmen representing industrial and commercial institutions will arrive in Cairo next Saturday under the auspices of the National Mexican Bank.
The visit aims at recognizing the potentials of the two countries. It will be a chance for the Mexican delegation to recognize the Egyptian industries. The Egyptian market is capable of taking Mexican products and will benefit from joint investment between the two countries.
The visit also aims at strengthening cooperation in the fields of food industry, glass, oil and natural gas pipelines, the spare automobile parts, heavy machinery and electrical appliances. The Mexican companies will contribute in the operation and expansion of the subway.
Egypt is trying to strengthen its ties with Mexico to benefit from Mexico's membership in the North American Free Trade Agreement (NAFTA), whose members include the USA and Canada. Thus, any free market agreement or any mutual agreement will give Egypt the chance to enjoy the privileges of the NAFTA group. In addition to the fact that Mexico could be a good market and the gate to entering countries in Central America. Consumers' tastes in these countries are similar to those of the Egyptian consumer, which makes it easy for Egypt to promote its products in these countries--among which are Honduras, Guatemala, and El Salvador.
The volume of trade between Egypt and Mexico did not exceed LE 51 million. But the Egyptian Foreign Ministry exerted efforts to strengthen the commercial ties and to promote Egyptian exports. It managed to increase the volume of balance to LE 100 million.
Previous Stories:
International Bank allocates $300 million loan to Egypt
(8/30/1997)
Privatization of 314 companies expected to yield 52 billion
(8/26/1997)
Mad cow disease fears leave imports' fate in question
(8/20/1997)
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