Moussa calls for economic, commercial cooperation with Russian Commonwealth

At the inauguration of the first conference enhancing economic cooperation with the Russian Commonwealth countries, Egyptian Foreign Minister Amr Moussa confirmed the great importance of enhancing economic cooperation between Egypt and the Russian Commonwealth countries.

He said that the two societies with their history and future are completely ready for integration within a world in which most forms of cooperation have begun to revolve around circles of participation, assembly and globalization, and within which the context of cooperation has moved from the regional level to the continental level, away from barriers and limits.

Moreover Moussa suggested a formula for work between Egypt and the Commonwealth countries based on a number of pivots capable of solving the problems facing economic cooperation, such as establishing means of transportation, completing mechanisms for a legal context, and establishing structures for achieving mutual interest, as well as protecting investment, guaranteeing exports and preventing double taxation.

The chairman of the General Department for Egyptian Investment, Ibrahim Fouz, called for solving the problems obstructing economic cooperation. The economic cooperation conference between Egypt and the Russian Commonwealth countries continues the work of its second day in Cairo, yesterday.

Fouz announced today that the horizons for economic cooperation between Egypt and commonwealth countries are open, also calling for solving the problems obstructing cooperation between both sides, including those concerning the establishment of an aviation line between Egypt and the Commonwealth countries and the establishment of an Egyptian bank or a branch of an Egypt's bank in these republics that can finance commercial cooperation between the two sides.

He also said that the facilities presented by the Egyptian government are more than that those presented by other developing countries and called for discussing practical methods of establishing trade and economic relations between Egypt and the Russian Commonwealth countries.

Meanwhile, Egyptian Minister of Economy Youssef Butros Ghali announced that the current economic situation in Egypt enables it to a partner with the Commonwealth countries in establishing a modern structure, also in importing its requirements of goods and different services.