11 -17 February 1999
Issue No. 416
|Published in Cairo by AL-AHRAM established in 1875|
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A DANISH business delegation is expected to visit Cairo on 22 February to promote commercial ties between Egypt and Denmark. A seminar will be held to discuss cooperation between the two countries.
Ellen Margrethe, state secretary and head of the South Group at the Danish Ministry of Foreign Affairs, said that the ministry "gives significant attention to the development of bilateral commercial ties between Denmark and Egypt."
Margrethe added that relations between the two countries have developed fruitfully over the years. "Egypt is one of the main partners in the Danish development assistance programme," she said.
The visit is being organised by the Danish Private Sector Development Programme which promotes long-term cooperation between companies in Egypt and Denmark.
The delegation will include members of the Danish Chamber of Commerce, the Confederation of Danish Industries and other business organisations.
OVER 60 Mexican companies are expected to come to Egypt to attend the Industrial Exhibition for Mexican Industries which is to take place next May.
A spokesman for the exhibition said that the high number of participants indicates the importance of the Egyptian market to Mexico.
Preparations for the exhibition began in 1997 when a delegation of Mexican businessmen visited Egypt to discuss bilateral relations and possible business ventures with their Egyptian counterparts.
During the visit, Mexican businessmen met officials from the Egyptian Information Decision Support Centre (IDSC) and the ministries of trade and industry.
Mexican firms also participated in the 30th Cairo International Book Fair.
The Mexican government is currently involved in the Aswan Iron and Steel Project for which it is providing training programmes.
Business with Morocco
IBRAHIM Fawzi, head of the Investment Authority, along with a number of Egyptian and Moroccan businessmen gathered last week at the opening of the first session of the Egyptian-Moroccan Business Assembly in Morocco. The assembly was inaugurated in Egypt last April.
During the session, Fawzi was quoted as saying that annual Moroccan imports from Egypt reached $16 million in 1998, as compared to $8 million of Egyptian imports from Morocco for the same year.
DB seeks stronger presence
A SENIOR official representing Deutsche Bank (DB), Germany's largest bank, was in Cairo early this week, as part of the bank's strategy to strengthen its presence in Egypt and the Middle East.
Bernard-Albrecht Von Maltzan, divisional board member of Deutsche Bank, speaking at a press conference, said that the purpose of his visit was to get closer to the bank's customers and provide them with detailed information on the euro and the possibilities of potential shifts in their asset allocation in light of the new currency. Von Maltzan said he would also examine the possibility that the bank may act as a matchmaker in bringing together investors from Egypt and abroad. DB boasts a capital of around $47.1 billion.
However, Von Maltzan said that the bank, which has maintained a representative office in Cairo for over 40 years, is not yet ready to open any branches in Egypt, or to acquire stakes in existing banks. He says that this is because Deutsche Bank currently has "too much on its plate".
DB is currently awaiting its shareholders' approval of its planned acquisition of Bankers Trust, the US-based bank. This acquisition, according to Peter Peicher, senior representative of the Deutsche Bank in Egypt, will make DB the largest bank in the world.