Ebeid chairs meeting on European- Egyptian partnership

Egypt's Prime Minister Atef Ebeid Saturday held a cabinet meeting to discuss the draft Egyptian- European partnership agreement.

The meeting was attended by Ministers of Economy, Industry, Military Production and Public Enterprises and the Chairman of General Authority for Investment and Free Zones.

Emerging from the meeting, Ebeid said that he discussed with the ministers a number of questions which Egypt will raise with the European side on issues related to the certificate of origin for Egyptian products and the customs duties levied on materials that are used in the production of export commodities.

"Talks also covered the aid which Egypt will receive in order to upgrade its factories," added Ebeid.

Ebeid told reporters that the Egyptian side has a plan to modernize Egyptian factories and increase their competitive capacity to the level of European factories. He added that 3000 Egyptian factories need to be upgraded.

Meanwhile, Ebeid received Board of American Chamber of Commerce. "US administration officials and congressmen have expressed respect and appreciation for President Hosni Mubarak and for Egypt's pivotal role as a basic element for achieving peace in the Middle East," said Mohamed Mansour, Board Chairman of the American Chamber of Commerce in Egypt, following Ebeid`s meeting with members of the Board of the Chamber on Saturdays.

"The American officials also underlined that they will continue supporting Egypt and encouraging bilateral trade and investment with," he added.

Mansour presented to Ebeid the outcome of the trade promotion mission to the US by the Chamber in March. He added that members of the "Knocking Doors" mission held a large number of meetings with the Clinton administration, the Congress and the International Economic Associations in Washington.

Members of the Chamber presented to Ebeid a report on means of encouraging American investments in Egypt, especially direct investments.