Mubarak's European tour, a positive impact on economy
The shuttle tours of President Hosni Mubarak in Arab, American and European capitals made of Egypt a center of attraction to a number of Western businessmen and investors looking for safe emerging markets to pump their money into.
Economic experts told the Middle East News Agency that Mubarak's visit would not only have a positive impact on the short run, but also on the medium and long run.
"President Mubarak, during his visits abroad, gives a realistic and genuine picture of the Egyptian capabilities, the successive changes seen in the economic and investment infrastructure and the consequences of the partnership agreements Egypt to be concluded with a number of economic blocs," they said.
"The plans of major international industrial and trade institutions to have centers in nearby markets for making and exporting their products will help draw the attention of such institutions to the Egyptian call," experts say.
In the past two months, Egypt received a large number of businessmen delegations from Russia, Italy, Ukraine, and Austria. Other delegations from France and South Korea are expected to come within the next week.
Arab-German Chamber of Commerce Director Peter Gopfrisch said: "The coming stage will see a rise in Egyptian exports to Germany, especially after moving the Egyptian Pound exchange rate against the US dollar, and the satisfactory progress of Egypt-Germany economic relations."
Egyptian-German trade hit 3.8 billion DM a year, he said, adding the figure is subject to increase.
A number of major German infrastructure companies seek to invest in Build, Operate, and Transfer (BOT) projects in Egypt, and in building railways and an airport via BOT in the Sixth of October City.
Germany is going to be the first leg of Mubarak's European tour, due on April 24. Mubarak is scheduled to meet with German Chancellor Gerhard Schroeder and a number of German officials on boosting investments in Egypt and shoring up Egyptian exports to Germany.
After leaving Germany, Mubarak will visit the Romanian capital Bucharest on April 25 where he is to meet with President Ion Iliescu, Prime Minister Adrian Nastase and Foreign Minister Mircea Dangeoana.
Mubarak, afterwards, will head for Moscow on April 26 to hold talks with President Vladimir Putin and his Prime Minister, Foreign Minister and Defense Minister.