One billion L.E from European Union to develop Egyptian industry

The European Union is presenting one billion L.E for Egypt in the form of a nonrefundable donation for developing Egyptian industry during the coming 10 years and for increasing Egyptian industrial capability to compete in international markets.

Gamal Bayoumi, the Egyptian assistant foreign minister for European affairs, said this donation will be presented in the partnership agreement with the European Union, according to which the union will liberate the Egyptian exports to European markets from all restrictions from the day of implementation of the partnership agreement three years from now after this agreement is approved by the European parliaments.