French com­pa­nies to an­nounce new deals over Macron’s fu­ture visit

Visit ma­jor mile­stone in our re­la­tions, says am­bas­sador

The Daily News Egypt - - News - By Hagar Om­ran Stephane Ro­matet, am­bas­sador of France to Egypt

It is ex­pected by Stephane Ro­matet, am­bas­sador of France to Egypt, that French com­pa­nies would an­nounce the new deals with Egypt dur­ing the planned visit of French Pres­i­dent Em­manuel Macron to the Egypt, adding, “the pres­i­den­tial visit is a good oc­ca­sion to an­nounce the new deals which we are work­ing on now, how­ever, it’s too early to re­veal more de­tails.”

“The French em­bassy is very well pre­pared for the fu­ture pres­i­den­tial visit. it’s too early to com­mu­ni­cate the date but off course, the visit will be a ma­jor mile­stone in our re­la­tions, that’s why we are in­ten­si­fied our prepa­ra­tion mode for both the Egyp­tian and French sides,” the am­bas­sador told Daily News Egypt.

Ear­lier in Oc­to­ber, DNE re­ported that Macron will pay an of­fi­cial visit to Egypt on 28 Jan­uary 2019, ac­cord­ing to of­fi­cial sources on con­di­tion of anonymity.

The am­bas­sador af­firmed his coun­try’s ef­forts to make the pres­i­den­tial visit a ma­jor success for bi­lat­eral re­la­tions, adding that the pres­i­dent will come to Egypt with the in­ten­tion of tak­ing ben­e­fit of all the po­ten­tial in the fields of in­vest­ment and ma­jor projects.

No­tably, Egypt and France are con­sid­er­ing hold­ing a joint in­vest­ment fo­rum in the New Ad­min­is­tra­tive Cap­i­tal, dur­ing Macron’s planned visit, to pro­mote Egypt’s in­fras­truc­ture projects, ac­cord­ing to of­fi­cial sources to DNE in Oc­to­ber, adding, “hold­ing the fo­rum in the New Ad­min­is­tra­tive Cap­i­tal de­pends on se­cu­rity ap­provals, as a pres­i­den­tial visit is a sen­si­tive mat­ter and needs to be fully se­cured.”

“I am sure that the eco­nomic di­men­sion will be ab­so­lutely key to Macron’s ex­pected visit,” men­tioned the am­bas­sador, adding that the an­nual av­er­age of the trade ex­change is over €2bn, while there is po­ten­tial to in­crease the fig­ure.

“In truth, France is ex­port­ing about €2bn to Egypt while im­port­ing about €400m, and my per­sonal feel­ing is that we can do more bet­ter in terms of trade ex­change,” said the am­bas­sador, af­firm­ing both coun­tries’ ef­forts to boost the trade ex­change over sev­eral oc­ca­sions.

On Oc­to­ber 2017, Pres­i­dent Ab­del-Fat­tah Al-Sisi vis­ited France and dis­cussed with Macron joint ef­forts to counter ter­ror­ism, the Mid­dle East peace process, and the sit­u­a­tion in Libya.

Dur­ing the past visit, both pres­i­dents at­tended the sign­ing of 16 mem­o­ran­dums of un­der­stand­ings in the fields of re­new­able and tra­di­tional en­ergy, in­fras­truc­ture, so­cial se­cu­rity, and trans­porta­tion, as well as meet­ing a num­ber of French mil­i­tary man­u­fac­tur­ing com­pa­nies. The trade ex­change be­tween Egypt and France recorded $1.4bn dur­ing the first eight months of 2018, di­vided into $460m in ex­ports and $999m in im­ports ,ac­cord­ing to a past state­ment from the trade and in­dus­try min­istry.

French in­vest­ments in Egypt are es­ti­mated at €4.5bn, in­clud­ing agri­cul­tural in­dus­tries, in­for­ma­tion tech­nol­ogy, con­struc­tion, new and re­new­able en­erg y, trans­por tation, banks, avi­a­tion, water de­sali­na­tion, in­fras­truc­ture and tourism, the state­ment added.

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