Fahmi attends UAE-Egypt first General Assembly

Egypt's Minister of Petroleum Sameh Fahmi on Monday said that cooperation was maintained among the Arab states in oil domains.

Fahmi, in statements after attending the first general assembly of the UAE-Egypt oil company, said that inter-Arab cooperation in the oil domains was the first step along the path of establishing the Arab common market.

He pointed out that setting up the UAE-Egypt oil company comes within the framework of keenness of both states to promote bilateral cooperation.

Company Chairman, Maher Abaza said that the company total capital hit LE. 500 million to be shared equally by both sides. The Minister added that the company will build 70 gas stations nationwide.