Arabic News Weekly Edition for Economics, 5/27/2002
Weekly Edition, Economics - Week of May 27, 2002
- Australia for strengthening trade, economic relations with Libya
Australia announced on Friday it will seek to restore back normal relations with Libya in a step aiming at strengthening trade and economic relations between the two countries following 15 years of the closure of the Australia embassy in Tripoli because of political differences. Libya-Australia, Economics, 6/1/2002 - Mediterranean forum hails Agadir declaration for creation of free-trade area
The "5+5 forum," a Mediterranean informal dialogue forum held in Tripoli this May 29-30 hailed the Agadir declaration signed in May 2001 between Morocco, Tunisia, Jordan and Egypt for the creation of a free-trade zone between the four states. Regional-European Union, Economics, 6/1/2002 - Mubarak refers export promotion bill to People's Assembly
Egyptian President Hosni Mubarak approved the export promotion bill and referred it to the People's Assembly for debate, said Minister of Foreign Trade Youssef Boutros Ghali yesterday. Egypt, Economics, 6/1/2002 - Arab water deficiency
An Arab expert in the field of world environment affairs expected water shortage in the Arab states to reach in 2002 some 200 billion cubic meters of water, noting that the need of the Arab region of waters in 2000 reached 360 billion cubic meters and expected the needed amount of waters to be 500 billion cubic meters by the year 2020. Regional, Economics, 6/1/2002 - Ebeid discusses Sunday communications, insurance budgets
Egyptian Prime Minister Atef Ebeid holds Sunday a meeting with Minister of Communications Ahmed Nazif and Minister of Insurance Amina Al-Gindi to discuss the investment plan and the two ministries budgets. Egypt, Economics, 6/1/2002 - EIB euro 20 million loan to the Tunisian cement sector
The European Investment Bank (EIB), the European Union's long-term financing institution, is lending EUR 20 million to Ciments Artificiels Tunisiens (CAT), for the modernisation and expansion of its existing cement plant at Ben Arous, in the Greater Tunis area. Tunisia-European Union, Economics, 6/1/2002 - ILO reports dire economic, social crisis in occupied territories
Warning of a "socio-economic meltdown" in the occupied territories, the International Labor Organization (ILO) on Thursday called on Israel to ease movement restrictions on Palestinians and urged the world community to support a dialogue between the two sides. Palestine, Economics, 6/1/2002 - Moroccan- Emirates talks over airport duty-free zones
General manager of the Moroccan authority of customs and indirect taxes, Abderrazak Moussadeq, met in Abu Dhabi executives from the Abu Dhabi airport. United Arab Emirates-Morocco, Economics, 6/1/2002 - $ 370 million to finance 1st stage of Nobaria power station
The electricity sector received initial approvals to allocate $ 370 million to finance the first stage of Al Nobaria power station from Arab funds and investment banks, said Electricity and Energy Minister Hassan Younis Friday. Egypt-Regional, Economics, 6/1/2002 - Egypt ranks sixth among world's automobile gas consumers Egypt, Economics, 6/1/2002
- Egypt first Middle East country to recover from post-September tourism crisis
Egyptian Tourism Minister Mamdouh El-Beltagui met on Thursday with members of the German Parliament, Bundestag Tourism Committee. Egypt, Economics, 6/1/2002 - L.E. 20 million to set up museum in Qena, sound and light project in Dendra
Egyptian Minister of Culture Farouk Hosni endorsed the sum of L.E. 20 million to set up antiquities museum in the city of Qena refurbish the Dendra temple and operate the sound and light project there as of next year. Egypt, Economics, 6/1/2002 - Italy opens 15.5 million euro credit line for Moroccan small and medium-sized enterprises
Units of investment promotion (UPI) will be managing these programs and helping operators with their projects and business plans and find commercial and industrial partners either in Morocco or abroad. They will also help them find financing sources, she said. Morocco-Italy, Economics, 5/31/2002 - Europe can do more to aid developing countries, UN says
FAO's Director for North America, Charles Riemenschneider, also called attention to the importance of next month's forum, pointing out that worldwide, over 800 million people - including 200 million children - went to bed hungry every night Regional-European Union, Economics, 5/31/2002 - Investments opportunities in Morocco publicized in China
Morocco organized recently days in the Chinese city of Wenzhou to publicize the country's investments opportunities for Chinese economic operators. Morocco-China, Economics, 5/31/2002 - Mubarak praises activities of International Farmers Federation
The issue of rural poverty is considered the greatest challenge facing the developing world, he said, asserting the importance of reaching an international strategy for the poor in the countryside through which they could develop their production and human resources. Regional-Egypt, Economics, 5/31/2002 - Mubarak receives IFAD chairman
Egyptian President Hosni Mubarak received Wednesday Chairman of the International Fund for Agricultural Development (IFAD) Lennart Bage. Egypt, Economics, 5/31/2002 - Egypt lauds IFAP's role in development
Egypt fully appreciates the vital role of the International Federation for Agricultural Producers (IFAP) in defending the interests of farmers and modernising agricultural methods worldwide, President Hosni Mubarak told the opening session of a Cairo congress yesterday. Egypt, Economics, 5/31/2002 - Qatar pulls out from the Gulf airlines
Abdullah Bin Hamad al-Ateyah, the Qatari minister of energy and industry and Qatar's representative to the board of the Gulf Airline company said in a press statement on Wednesday that Qatar decided to withdraw from the Gulf airline company after it had refused in the extraordinary meeting of the general assembly which was held on Wednesday in Abu Dhabi to pay a sum of 250 million Riyals to the company which suffers difficult financial conditions and debts estimated at USD 800 million. Qatar, Economics, 5/31/2002 - Israel uses Palestinians' money to support its budget
The Israeli government has decided to use USD 200 million of the sums of the Palestinian authority, frozen by it to support its budget. Palestine-Israel, Economics, 5/31/2002 - Turkey says upcoming period to witness rise in trade exchange
Turkey's ambassador in Egypt Aykut Cetirge said the Turkish investements in Egypt totaled so far L.E. 150 million, in automobile manufacture, iron pipes, kitchenware, artificial oils and ready-made clothes machines. Egypt-Turkey, Economics, 5/31/2002 - Government entrusts private firms with investment projects
The government will assign private sector companies the task of implementing investment projects with a total budget of LE20 billion. The projects are part of the National and Social Development Plan for FY 2002/2003. Egypt, Economics, 5/30/2002 - Saudi Arabia to help Yemen's development, June coordination meeting
Well- informed sources said that the Saudi- Yemeni coordination council will be held in Jeddah on June 15 and 16 under the chairman ship of the Saudi minister of defense prince Sultan Bin Abdul Aziz, on behalf of the Saudi side and the Yemeni prime minister Abdul Qader Bajmal on behalf of his country. Saudi Arabia-Yemen, Economics, 5/30/2002 - Arab foreign debts estimated at $ 144 billion
Al-Mana'e remarked that the discrepancy in the government's budget was in parallel with a deficit in the balance of payment that many Arab states suffer from. A situation that requires the introduction of economic reform programs. Regional, Economics, 5/30/2002 - Egypt accelerates decisions and revision process, industrial plans
The Minister of Industry said the consultative council for industry has assigned modernisation center to make the amendment and to submit the new plan within 14 days in preparation for endorsing it by industry modernization council. Egypt, Economics, 5/30/2002 - Egyptian industry modernization
Modernization of Egyptian industry is a life or death issue, not only for national economy but also for development opportunities and projected growth rates. Egypt, Economics, 5/30/2002 - Mubarak gives five assignments for maintaining environment
Egyptian President Mubarak reviewed at an expanded ministerial meeting yesterday a strategy for protecting environment. This is the second meeting President Mubarak holds this week. Egypt, Economics, 5/30/2002 - Economic reform enters second stage; subsidies replacement being studied
Hassanein, speaking at the closing session of an economic conference, said: "One key pillar of the second stage of economic reforms is to reform subsidies. Intensive discussions should be conducted throughout the current fiscal year regarding [government] subsidies." He added that the discussions should focus on whether to continue to offer subsidised supplies or to partially replace them with financial assistance. Egypt, Economics, 5/30/2002 - Jordan, Italy sign memorandum of understanding Jordan-Italy, Economics, 5/30/2002
- Scottish oil and gas operators in Morocco
The visit is part of efforts to develop exchanges with Morocco, a country where the oil and gas industry is promised to a bright future, said Abdelhadi Fawzy, who heads delegation. Morocco-UK, Economics, 5/30/2002 - Japan wants stronger investment and technology transfer with Morocco
Chairman of the Moroccan-Japanese Friendship group, Badreddine Snoussi, met in Rabat Tuesday a delegation from the Japanese Alliance for Friendship with Morocco over various aspects of economic and cultural cooperation. Morocco-Japan, Economics, 5/30/2002 - Saudi Arabia, Ethiopia sign agreement on air transport
Saudi Arabia and Ethiopia have finalized an agreement providing for strengthening cooperation in the field of air transport. Saudi Arabia-Ethiopia, Economics, 5/30/2002 - Spanish imports of Moroccan sea products rise by 80%
Spain's imports of Moroccan sea products increased by 80% during 2000-2001, Spanish official sources said in a report. Morocco-Spain, Economics, 5/30/2002 - Planning Minister looks back over five years of challenge, improvement
Hardly will few weeks have passed when a new fiscal year will have started in Egypt on July 31, 2002. June 30 not only marks the end of a fiscal year 2001-2002, but also the beginning of the new 2002-2007 Five-Year Plan. Egypt, Economics, 5/30/2002 - Wali to read out Mubarak speech to 35th int'l Farmers Conference
Egyptian President Hosni Mubarak has deputized Deputy Premier and Minister of Agriculture Youssef Wali to read out on his behalf a speech before the 35th international farmers conference on Wednesday. Egypt, Economics, 5/30/2002 - Abul Naga highlightes 'Knock the Door' mission to the USA
Egyptian Minister of State for Foreign Affairs Fayza Abul Naga highlighted the tour made by "Knock the Door" mission to the USA where its members played key role in elucidating Egypt's viewpoint towards the current sensitive events in the region, and conveyed an important message to both the US Congress and President. Egypt, Economics, 5/30/2002 - Israel to buy Turkish water
An Israeli delegation is currently paying a work visit to Ankara, chaired by the advisor of the cabinet Ivigore Ishaki and membership of Israelis from the foreign ministry, the ministry of waters and the waters committee in order to take final decisions relating to buying waters of Manfghat river. Israel-Turkey, Economics, 5/30/2002 - Morocco-EU Relations Probed
The Moroccan official stressed the importance of the association accord concluded by Morocco and the EU and lauded EU's contribution to sharpening the competitive of edge of Moroccan firms to prepare them for the free trade area, stipulated in the accord. Morocco-European Union, Economics, 5/30/2002 - Fish catches increase by 22% in 2001
Fish catches reached in 2001 978,000 tons, posting a 22% increase compared to 2000, say figures released at the 1st session of the Moroccan higher council for sea resources preserving and exploitation opened here Tuesday. Morocco, Economics, 5/30/2002 - Syrian premier opens the fourth economic forum today Syria, Economics, 5/29/2002
- Domestic savings to be main driving force of Egypt's development
In line with the continued efforts to provide the needed impetus to Egypt's socio-economic development plan, experts viewed that increasing the domestic savings rate to 25 percent of the Gross National Product (GNP) is considered as one of the main pillars of such a plan. Egypt, Economics, 5/29/2002 - Syria takes part in world conference for the international road federation in Romania Syria, Economics, 5/29/2002
- Iraq is resolved to cooperate with Morocco; agreement signed
Speaking at a meeting with Moroccan minister of health, Thami El Khyari who ended this Tuesday a visit to Iraq, Ramadan said his country is working for an effective cooperation promotion with all the Arab states, and aspires to pan-Arab partnership and unification of ties. Iraq-Morocco, Economics, 5/29/2002 - Policy decisions, timelines, mechanisms, follow up; enhancing exports competitiveness
Gouda Abdel Khaleq, Professor of Economy at the Faculty of Economics and Political Sciences noted that the aim of issuing any economic decision will not be sufficient as long as it is not coupled with the bent methods for achieving the economic and social goals of this decision. Egypt, Economics, 5/29/2002 - Moroccan business delegation probes economic and commercial, partnership with Mauritania
The mission, comprising representatives of 24 Moroccan companies from the sectors of textile, car industry, agribusiness, electric equipment, new technologies and international trade, is conducting between with Mauritanian counterparts to set up the bases of a mutually fruitful partnership and probe means to set up solid partnership and foster trade between the two states. Morocco-Mauritania, Economics, 5/29/2002 - Arab electricity ministers meet in Cairo
The bureau also reviewed the electricity grid project for each of Syria, Lebanon, Egypt, Iraq, Jordan and Turkey as well as means of supporting electricity equipment industry for producing and transporting electricity in the Arab states, underlining the importance of following up the implementation of the Arab summit resolution to found the common Arab market for energy. Regional, Economics, 5/29/2002 - Nazif inaugurates new IT network
Egyptian Minister of Communications and Information Technology, Ahmed Nazif inaugurated recently 'Raya' new communications company with total investment costs of L.E. 28 million. The new company will provide connecting services between Egyptian companies and their foreign counterparts via a network covering Egypt's governorates. Egypt, Economics, 5/29/2002 - Italian and Moroccan enterprises examine preparations to improve international competitiveness
The Committee of Italian Operators in Morocco (COIM), the Italian Commercial Delegation and the Italian chamber of commerce in Morocco (CCIM) will hold Wednesday an information day to look into preparations to improve international competitiveness of Moroccan enterprises. Morocco-Italy, Economics, 5/29/2002 - $ 60 million in US investments to be injected into Suez Gulf company
In a key step reflecting the significant improvement of business conditions in Egypt, one of the US industrial corporations has recently announced injecting $ 60 million into an export-oriented industrial scheme north west of the Suez Gulf. Egypt-USA, Economics, 5/29/2002 - Exclusive economic zones aim at increasing investments exports
Egyptian Prime Minister Atef Ebeid yesterday said that the government will start applying the law on exclusive economic zones (EEZs) in three areas in Egypt. Egypt, Economics, 5/29/2002 - People's Assembly approves exclusive economic zone bill
At its session yesterday under Ahmed Fathi Sorour, the People's Assembly agreed in principle on the exclusive economic zones bill which aims at increasing national and foreign investments in Egypt through extending a number of privileges and incentives which are provided by the current laws. Egypt, Economics, 5/29/2002 - Kuwaiti exhibition opens in Casablanca
An exhibition of Kuwaiti products opened in Casablanca on Tuesday part of efforts to enhance cooperation ties between Morocco and Kuwait. Morocco-Kuwait, Economics, 5/29/2002 - Tourism to recover to glory level, experts agree
US based CNN said yesterday that experts agree that tourism in Egypt will recover to the level of its glory days despite developments in the Middle East crisis. Egypt, Economics, 5/29/2002 - British Potato Seeds Producers on Business Mission in Morocco
A group of British potato seeds exporters are expected in Morocco this Tuesday on a five-day business mission, the British embassy announced. Morocco-UK, Economics, 5/29/2002 - Modernization provides more job opportunities, investments and competition
Egypt's President Hosni Mubarak underlined the need for abiding by timetables for implementing industry modernization plan and exportation of products developed in the new urban communities. Egypt, Economics, 5/28/2002 - Egypt goes on implementing economic reform program
The two-day conference will discuss the strategic choices and challenges facing the Egyptian economy, trade laws, financial policies, trade reform, and human resource development. Egypt, Economics, 5/28/2002 - Arab oil investments need $ 300 billion; regional policy urged
Arab oil sources have stressed that the oil and gas industry in the Arab states needs are estimated for investments are estimated at more than $ 300 billion over the next 20 years. Regional, Economics, 5/28/2002 - Moroccan health minister in Iraq
Moroccan health minister, Thami El Khyari, arrived in Baghdad on Sunday for a three-day work visit. Iraq-Morocco, Economics, 5/28/2002 - Dutch Delegation to visit Tangiers Thursday Morocco-Netherlands, Economics, 5/28/2002
- Water strategy till 2017 to be discussed
The strategic Research Unit at Egypt's National Water Research Center has prepared a number of scientific studies in preparation for the water strategies planning till 2017. Egypt, Economics, 5/28/2002 - Joint Arab airline company to be established United Arab Emirates-Iraq, Economics, 5/27/2002
- Moroccan health minister expected sunday in Iraq Morocco-Iraq, Economics, 5/27/2002
- Syrian- Iraqi economic cooperation implementations
They agreed to eliminate all hindering obstacles standing against boosting and developing their trade exchange Syria-Iraq, Economics, 5/27/2002 - Egypt to undergo an administrative revolution in public services
Egyptian Prime Minister Atef Ebeid yesterday opened a one-day symposium on improving public services. Egypt, Economics, 5/27/2002 - Qatar's economy minister to visit Iraq in June
Qatar's minister of economy and trade Sheikh Hamad Bin Faisal al- Thani will visit Baghdad by the beginning of June on top of a large delegation including high ranking officials and businessmen in the ministry. Qatar-Iraq, Economics, 5/27/2002 - Bridge linking Bahrain- Qatar to cost 1.5 billion
Well-informed sources said that the expected costs for constructing al-Mahba (amity) bridge between Bahrain and Qatar will reach USD 1.5 billion with a construction period expected to take three to five years. Bahrain-Qatar, Economics, 5/27/2002 - Morocco, Qatar sign package of agreements
Morocco and Qatar signed in Casablanca on Friday a package of agreements to stimulate cooperation in health, equipment, culture, education and information. Morocco-Qatar, Economics, 5/27/2002 - Mubarak stresses need for inter- Arab economic cooperation
Egypt's President Hosni Mubarak has stressed the need of revitalizing economic cooperation among the Arab states in order to establish the free trade areas and trade agreements. He explained that this would create a strong base for the common Arab market. Regional-Egypt, Economics, 5/27/2002 - Data banks and research to guide economic and social programs, Morocco
Under the agreements, part of the 2002-2006 cooperation program, a budget of 1.7 million US$ (1.02 Mln from the Fund's own resources and 680,000 from the state budget) will be earmarked to integrate population and gender issues in development planning, to methodological research and to the creation of a social-demographic data bank Morocco, Economics, 5/27/2002 - Tourism investments grow by 60% in 2001
Investments in the Moroccan tourism sector have reached in 2001 3.69 billion Dirhams (US$ 320.8 million), marking an increase of 60% compared to 2000, says the department of foreign investments. Morocco, Economics, 5/27/2002 - King Mohammed dedicates rural training center; micro-loans and basic business management
The center also dispenses to the village inhabitants literacy courses, vocational training and health-awareness courses. It extends micro-loans and basic business management courses. Morocco, Economics, 5/27/2002 - On the Yemeni gas project
The Middle East Economic Survey MEES economic specialized news bulletin said that a project for Yemeni liquid natural gas might be cancelled or suspended because of the failure to find a market for it. Yemen, Economics, 5/27/2002 - Sharon approved bringing in Thai labor force to Israel
The Israeli prime minister Ariel Sharon has decided to permit bringing in some 8,000 workers from Thailand to work in the Arab agricultural sector which was greatly affected by the Palestinian Intifada. Israel-Palestine, Economics, 5/27/2002