First Egyptian company for trade in Dubai

The Egyptian Oriental Weavers Group for investment established an Egyptian - United Arab Emirates company for trade in Dubai with equal shares with the UAE's El-Okeil group with a capital of $20 million.

Mohammed Farid Khamis, the head of the Egyptian group, told ArabicNews.com today that the company aims at reexporting Egyptian products from Dubai to the United Arab Emirates' neighboring countries, like India and the republics of the former Soviet Union, clarifying that the company's headquarter will be in the Jabal Ali area, in which employees from importing countries are going to work.

Khamis expected that the volume of the company's work's work may reach $3 million in the first year of its work in Dubai.