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A Seminar on Egypt's Economy Day to be held in ICCIM
In the Seminar on Egypt's Economy Day which was held in ICCIM the role of Iranian and Egyptian traders and businessmen on improvement of political relations between the two countries was emphasized.
According to the report of ICCIM Public Relations, ICCIM Deputy for International Affairs, "Mehdi Fakheri" pointed to the culture of thousand years trade relations between Iran and Egypt, noting that the two countries enjoy similar economic indexes but with a total population of 150 million people, the volume of our trade exchanges is $80 million from which $30m is Iran's share and $50m is Egypt's share.
One of the factors which affect the relations between the two countries is political issue he said, adding that we should try to remove political obstacles since business people in both countries are interested in increasing trade ties.
There are similar opportunities and challenges in both countries and if we can solve trade problems it will be possible to increase the volume of exchanges to 300 percent in the future.
The two countries enjoy a good level of multilateral trade relations, he said noting that both Iran and Egypt are members of D8, and OIC and as Egypt is active member of WTO and member of some of international organizations, we can benefit from Egypt's experience for WTO accession.
Egypt is a large importer of food products and Iran can provide a part of it he stated, adding that good cooperation has been started in exporting and importing chemical fertilizer between the two countries.
Iran can also export technical and engineering services to Egypt and joint projects with African countries which are being implemented show that we can have good cooperation in these cases.
"Alaa Eldin Youssef", Head of Mission Interests Section of the Arab Republic of Egypt in Tehran pointed to lack of information as one of the factors which has effect on the decrease of trade relations between south countries, adding that holding different countries' economy day by Iran Chamber of Commerce is an appropriate initiation for introducing opportunities and capabilities of those countries.
Pointing to Egypt's history, he stated Egypt has always been one of the major centers of civilization and is considered as one of the miscellaneous economies in the world.
Infrastructures, transportation, labor force, trade liberalization, banking systems and stock exchange play significant role on growth and stability of Egypt's economy, he declared.
Egypt's economy is changing to one of the best economies in Africa, he stated, noting that there is good condition for investing in services, manufacturing and agriculture in Egypt. He also declared that our GDP growth was 6.4% between the years 2004 - 2007.
The volume of investment in Egypt shows trust of foreign investors on Egypt's economy and investment rules and regulations, he said and added during global economic crisis Egypt was a good place for foreign investors and our economic activities do not show any decrease.
Pointing to successful experience of cooperation between Iran and Egypt on establishing joint auto manufacturing company, he expressed that this company manufactures 70 automobile monthly.
Pointing to visa issuance, he said visa issuance has been increased for Iranian business people and athletes during last year and finding trade partners can help facilitate the process.
Head of Mission Interests Section of Iran in Egypt, "Amani" also declared that during recent years despite having no political relation, some Iranian delegations have been dispatched to Egypt and some Iranian expert exhibitions have been held there.
There is good opportunity for developing cooperation between two countries' private sectors, he said and added visa issuance should be facilitated in this case.
He finally declared that Iranian and Egyptian governments also intend to develop economic relations and said there is high capacity for increasing export and import within both countries.
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Feb 4, 2010 11:44
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