Egyptian-Turkish business council probes setting up joint gas, transport

For the first time in three years, the Egyptian-Turkish Business Council opened yesterday in Istanbul for enhancing bilateral trade relations and expanding the scope of joint banking and tourist cooperation.

ÊÊÊ The Egyptian Ambassador Fathi Al-Shazli said that it was important to lay down the foundations of an Egyptian-Turkish company aiming at boosting trade relations.

ÊÊÊ He also suggested launching joint ventures in maritime and road transport.

ÊÊÊ Shazli also highlighted the potentials of enhancing tourist ties and augmenting tourist investments between both countries.

ÊÊÊ The Egyptian Ambassador also demanded the joint business council to put forward specific proposals on means of ironing out obstacles impeding trade exchange between the two countries and increasing joint investments.

ÊÊÊ Chairman of the Egyptian Businessmen Association Gamal Al-Nazer, the two chairmen of the Egyptian-Turkish Business Council, the Secretary General of Turkey's foreign economic relations and businessmen from both countries attended the meeting.

ÊÊÊ Energy filed came high on the agenda of the meeting as Turkey's consumption of natural gas is growing by 18 percent a year and it is expected to make up 33 percent of the total energy sources during the coming 15 years. Hence, concluding a deal with the Egyptian side in the field is important.

ÊÊÊ Deputy Chairman of HENCO Group Khaled Abu Bakr explained to the Turkish Businessmen Egypt's capabilities in producing and distributing the gas.

ÊÊÊ He said an agreement was reached on setting up a joint company to be in charge of carrying out gas projects in Turkey.