Egypt achieves great leap in production, exports

Egypt's Prime Minister Atef Ebeid Sunday presided over a meeting of a ministerial group which made a final review of agreement presented to Egypt in the light of remarks made by ministries and chambers and unions of industry in agreement with EU.

Ebeid said Egypt wants the European side to help the treasury to shoulder the burdens resulting from this agreement which will be carried out over 14 years.

He pointed out that initialling the agreement does not make it obligatory to carry it out except after three years. "Then there will be a period extending to 10 years to carry out the agreement," he expounded.

"We ask the European Union to share in shouldering the burdens resulting from low revenues of customs and taxes and to extend technical assistance to modernize some factories and establishments," the Prime Minister said.

Ebeid said the agreement should be discussed with business organizations, the public opinion and unions in order to prepare public opinion for modernization.