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Al-Ahram Weekly 2 - 8 September 1999 Issue No. 445 
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Published in Cairo by AL-AHRAM established in 1875 |
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Al-Ahram Weekly 2 - 8 September 1999 Issue No. 445
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| Published in Cairo by AL-AHRAM established in 1875 |
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Egypt Region International Economy Opinion Focus Culture Features Profile Travel Living Sports People Time Out Chronicles Cartoons Letters Egypt-Iraq trade revival
THE VOLUME of bilateral trade between Egypt and Iraq reached $300 million last year. This high figure reflects a revival in bilateral trade relations between the two countries after Baghdad signed the Oil for Food Agreement with the UN in 1996. These relations are expected to improve further when Baghdad hosts the Egyptian-Iraqi Joint Committee meetings next month during which a number of agreements are expected to be signed.The 1990s have witnessed important developments in Egyptian-Iraqi trade ties. The most recent of these was last week's visit to Iraq by the Egyptian minister of industry accompanied by a high ranking delegation and more than 65 Egyptian businessmen.
Mohamed Mahdy Saleh, Iraqi minister of trade, speaking to Mohamed El-Anwar in Baghdad, said that his government welcomes any Egyptian private sector investment provided it meets Iraqi standards of quality and rules of origin. "We do not accept a product that enters Iraq through an Egyptian company when it is not of Egyptian origin," Saleh said.
The Iraqi government gives priority to Egyptian products in particular and Arab products in general, and it is always willing to sign long-term agreements with Arab countries, Salah added.
He expressed optimism about trade relations between the two countries in the future, pointing out that they will expand further, both quantitatively and qualitatively, after the embargo on Iraq is lifted.
On the silk road
THE INDO-AFRICAN Chamber of Commerce and Industries organised a visit to Cairo last week by a 13-member delegation of Indian businessmen. During the visit, a memorandum of understanding was signed between the Federation of Egyptian Chambers of Commerce and the Indo-African Chamber to promote bilateral trade.During the four-day visit, delegation members met with Mahmoud El-Arabi, chairman of the Egyptian Chambers of Commerce, who explained the various business opportunities available in Egypt to foreign businessmen.
A large number of Egyptian businessmen met with their Indian counterparts and discussed their respective areas of interest.
The Indian businessmen also met Ibrahim Fawzi, chairman of the General Authority for Investment, and officials from the Ministries of Trade and Public Enterprise. Fawzi provided the Indian delegation with details on incentives available to investors in Egypt and said the government's policy creates an investor-friendly climate in the country.
Mobile networking
REPRESENTATIVES of mobile service providers in 12 Arab countries met in Cairo last week for the GSM Arab World Conference.The annual conference allows Arab GSM companies to discuss the latest technical developments in the industry and to share their experiences with other mobile network operators in the Arab world. It also aims at updating subscriber statistics in each country.
GSM Arab World is actively involved in setting standards for GSM networks in the region. It is a subsidiary of the international GSM Association, located in Dublin, Ireland.
Afro-Arab business
A NEW ORGANISATION has recently been welcomed into the Egyptian business community. The Afro-Arab Association for Businessmen and Ladies aims at overcoming obstacles to trade between the two areas and establishing export promotion centres for their products.Founders of the association believe that promoting Arab-African cooperation has become essential for development in light of the international trend to create economic blocs. They set up the non-profit organisation to cater to what they believe is an increasing interest in what the African and the Arab world have to offer.
The role of the association will include facilitating the efforts of businessmen and women to boost investments and promote cooperation. The organisation will also hold seminars and conferences to bring together Arab and African business people to discuss their problems and find new opportunities. It will attempt to organise regular, cheaper shipping lines between Africa and the Arab world. And it will seek to provide financing for importers from and exporters to the concerned countries.
The association is already trying to put into practice what it has pledged to do on paper. Its first activity will be sponsorship of an Egyptian exhibition in Abidjan from 20-27 September.
The association is chaired by former Ambassador Farouk El-Sadek of Egypt.
