Goweili: Egyptian free trade zones with Jordan, Kuwait, Saudi Arabia

Egyptian Minister of Trade and Supply Ahmed Goweili said today that Egypt is finally setting up agreements that will establish free trade zones with Kuwait and Jordan, adding that Egypt is to begin negotiations to establish a free trade zone with Saudi Arabia next year, in addition to other Arab states with which it signed such agreements.

Moreover, Goweili said Egyptian internal and external trade have been liberated to cope with international economic conditions, saying that there is a current movement setting up for the final stage of laws to regulate competition and to prevent monopolies, which will be submitted to the parliament in its coming session.

Egypt's successful privatization program and its efforts to make its companies and economy more competitive have attracted the attention of international investors seeking opportunities in this growing market of some 70 million consumer. As a result of the reform programs undertaken, the stock market has witnessed growth, and internal bank deposits have seen a sharp increase that analysts say will set the foundation for greater capital investment and continued growth of the economy.