Ghali's talks in Arabia touch on investment in petrochemicals

Egypt's Foreign Trade Minister Youssef Boutros Ghali said his talks with officials from the Saudi Basic Industries Company (SABIC)touched on the possibility of setting up investment projects in Egypt, particularly in the field of fertilizers.

He said the potentials available in Egypt and the country's needs for these products would guarantee the launching of successful quick cost-effective investments.

As regards the lifting of dumping fees imposed by Egypt on SABIC products, Ghali said serious talks are going on between SABIC officials and the Egyptian anti-dumping authorities in this respect.

After meeting with Saudi Minister of Trade and Industry, Hashim Abdullah Yamani, Ghali said the two sides agreed to form a task force to be co-chaired by himself and Yamani to meet biannually, adding that they also agreed on forging a cooperation mechanism to follow up flow of commodities and address any commercial or non-commercial obstacles that might pop up.