Austrian economic delegation to visit Egypt today

An Austrian economic delegation under the chairmanship of Leopold Madersaner, chairman of the western trade union in Austria, is arriving for a three-day visit to Cairo.

Taher El-Sherif, secretary general of the Egyptian Businessmen's Association, said the delegation includes representatives of 35 large Austrian companies, adding that a cooperation agreement between the businessmen's association and the Austrian trade chamber union will be signed to push forward joint investment and trade movement.

This comes as Austrian companies are currently participating in a program to modernize the Egyptian industry, which is financed by the European Union at a cost of $350 million.