Egypt, qualified to be regional trade hub
Egypt has great potentials to transform it into a big regional center for trade with Africa, the Arab region and the EU, said Dr. Peter Goepfrich, Executive-Director of the Arab-German Chamber of Commerce and Industry, and member of the Egyptian German Business Council.
Out of its keenness to activate Egypt's exports to the EU market, the Chamber has decided to open a consultative office in Berlin next month which will offer marketing and exporting services to the Egyptian companies, said Dr. Goepfrich.
He said that German Chancellor Gerhard Schroeder will visit Egypt next October, accompanied by a large German businessmen delegation to probe means of fostering economic and trade cooperation in the forthcoming period.
The German delegation will discuss a working paper prepared by the German-Arab Business Council to activate the two countries' relations via focussing on projects in different fields in accordance with Egypt's development plan with the ultimate aim of benefiting from German expertise and finance especially in the domains of tourism, technology transfer and modernizing Egyptian industry besides the projects carried out under the B.O.T. system.
"The Egyptian-German business Council comprises 12 committees, namely contracting, transportation, information technology, law, industries, tourism , training, environment, infrastructure, insurance, and small and medium-scale" Dr. Goepfrich added, urging the Egyptian companies to develop and modernize themselves so as to be capable of standing competition.
"Also, the Egyptian industry must be modernized tc confront the WTO decisions and merger of the world economy", he added.
"The partnership agreement will offer Egypt the technical and financial assistance to modernize its industry", Goepfrich pointed out,adding that any delay in signing the partnership agreement is not in the interest of Egypt's economy.
Dr. Goepfrich said that Egypt should expand its regional trade activities especially with the Arab and African states as well as the COMESA group, with a view to utilize its economic potentials and to increase its exports.
He admitted that the European policy in the field of boosting agriculture is unfair and does not cope with trade liberalization, adding that it is a controversial issue within the EU itself.
Dr. Goepfrich pointed out that the forthcoming period will witness an expanded regional cooperation as a joint meeting will be held among the Arab-German business councils with a view to increase investment cooperation in the Arab region and activate the regional tourism and commercial integration among Arab states.
Preparations are underway to hold a conference on the financing of joint regional projects with the participation of ministers and businessmen from Egypt, Lebanon, Jordan and the Gulf states, he concluded.