Egypt unlisted among nations of high financial risk
Egypt, Economics, 11/11/1999

Minister of Planning and International Cooperation Ahmed Al-Darsh said Egypt is leading the emerging markets in attracting investments, indicating that Japan recently considered Egypt unlisted among the nations of high financial risks.

He added that investments flowing into Egypt in the upcoming stage will increase in the light of the international reports that praised the performance of the economy.

"The Planning and International Cooperation Ministry plans to upgrade relations with donor countries from assistance oriented to actual partnership," the minister said Wednesday.

Darsh, in a press conference, said that the relations will include investment, trade, and technology transfer.

"The ministry is going to reform such relations in the coming stage," he said, adding that this step will take shape according the assistance given by the developed countries to the third world at large, not only Egypt.

"Most donor countries are to slash down aid to the developing world," he said, quoting European reports.

"The cooperation form will differ with the decrease of aid and globalization," he added.

Darsh affirmed that Egypt is ready to such development through working out partnership and cooperation relations with the different gatherings at the Arabs, African, European, and American level.

"Such a system will have pros as it will give us plenty of time and opportunities to move on our trade relations before all the world opens up, forming one market," said Darsh.

Egypt is a member in the African COMESA and the Arab Common Market.

Previous Stories:
  Egypt plans for technology sector development   (11/9/1999)
  Ghali calls for British investment in Egypt   (11/9/1999)
  Egypt works toward sustainable tourist development   (11/8/1999)

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