10 Egyptian com­pa­nies look to in­vest in Poland, Slo­vakia

The Daily News Egypt - - Business - By Ahmed Sabri

The Egyptian-Cana­dian Busi­ness Coun­cil will or­gan­ise a trade mis­sion to Poland and Slo­vakia next week to dis­cuss fur­ther trade co­op­er­a­tion with the two coun­tries. Moataz Raslan, chair­per­son of the coun­cil, said that the mis­sion will in­clude 10 com­pa­nies op­er­at­ing in the oil and tourism sec­tors, as well as com­pa­nies en­gaged in im­port and ex­port, and the in­dus­trial sec­tor.

He told Daily News Egypt that the mis­sion aims to at­tract Pol­ish and Slovakian in­vest­ments to Egypt, es­pe­cially af­ter the new re­forms adopted by the govern­ment over the past months and since the ex­change rate was lib­er­alised in Novem­ber 2016.

He ex­plained that the Egyptian com­pa­nies will hold bi­lat­eral meet­ings with their Pol­ish and Slovakian coun­ter­parts to dis­cuss in­creas­ing Egyptian ex­ports to the two mar­kets as well as pre­par­ing a list of the most im­por­tant prod­ucts that can be im­ported from both coun­tries.

Raslan ex­plained that the coun­cil is pre­par­ing a plan to fo­cus on eco­nomic and trade co­op­er­a­tion with the coun­tries of Eastern Europe as one of the most promis­ing mar­kets that Egypt aims to ap­proach as an al­ter­na­tive to the rest of the Euro­pean mar­ket. “Terms of trade

THE EGYPTIAN COM­PA­NIES WILL HOLD BI­LAT­ERAL MEET­INGS WITH THEIR POL­ISH AND SLOVAKIAN COUN­TER­PARTS

are eas­ier in Eastern Europe, and those coun­tries are tech­no­log­i­cally ad­vanced, which may serve the in­dus­trial sec­tor and trade in Egypt dur­ing the next phase,” he added.

The value of the Pol­ish in­vest­ments in Egypt are about $10m, through 100 com­pa­nies, with a cap­i­tal of $14m, as Poland is ranked 72nd out of 153 coun­tries that in­vest in Egypt, ac­cord­ing to data of the Gen­eral Au­thor­ity for In­vest­ment and Free Zones.

The Egyptian Com­mer­cial Of­fice in Poland has pre­pared a plan to in­crease trade ex­change by re­duc­ing the ship­ping pe­riod of 22 to 30 days by us­ing multi-stage cargo, which will be shipped by sea from Egyptian ports to the ports of neigh­bour­ing Ger­many or Slove­nia, then goods will be moved via land to Poland.

Newspapers in English

Newspapers from Egypt

© PressReader. All rights reserved.