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Al-Ahram Weekly 10 - 16 February 2000 Issue No. 468 
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Published in Cairo by AL-AHRAM established in 1875 |
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Al-Ahram Weekly 10 - 16 February 2000 Issue No. 468
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| Published in Cairo by AL-AHRAM established in 1875 |
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Egypt Region International Economy Opinion Culture Features Focus Profile Travel Books Sports People Time Out Chronicles Cartoons Letters Made in Italy
By Eman Youssef
A FLURRY of activity to promote Egyptian-Italian trade is currently underway.
Representatives from Fiera Milano and Smau -- both Italian exhibition specialists -- and the Milan Chamber of Commerce were in Cairo this week, leading a business initiative aimed at promoting bilateral trade between Egypt and Italy.
"Italy is one of Egypt's major commercial partners," said Bruno Ermolli, president of Promos, the agency set up by the Milan Chamber of Commerce to promote Italian business.
Two areas the delegation is particularly keen to explore are information technology and small and medium enterprises.
"We have followed the rapid evolution in Egypt's IT sector carefully," Ermolli said at a conference held on the fringe of Acitex 2000, the Al-Ahram Computer and Information Technology Exhibition. "This country's political stability and sound economic performance make it well-placed to provide new business opportunities in the Mediterranean and Arab region."
Ermolli said that there is strong interest in strengthening the Italian business presence in Egypt, specifically in the fields of computer science and data transmission and, if the delegation has its way, "made in Italy" will soon be adorning a great many consumer goods available on the local market.
The Italian government is also examining the potential for funding the small and medium enterprises in Egypt which Cesare D'Ippolito, president of the Italian Chamber of Commerce, described as "a key element for development." Currently it is discussing with Egyptian banks options for providing financial and technical support.
Members of the Italian business delegation at Acitex
Bilateral trade was the subject of talks between Minister of Economy and External Trade Youssef Boutros Ghali and his Italian counterpart, on a recent visit to Cairo.
"Egypt can benefit from Italy's experience with small and medium enterprises," said D'Ippolito, adding that the chamber intends to organise an Italian business delegation to Cairo in the coming months.
Italian exports to Egypt are concentrated in the tobacco, iron and steel, and chemical and pharmaceutical sectors while
Egyptian exports to Italy include crude oil, raw and spun cotton, aluminium and alloys, fuel oil, chemical fertilisers, tanned leather and sugar products.
In 1998, the last year for which figures are available, trade relations between the two countries were tilted in Italy's favour to the tune of LE544 million, though initiatives to improve access to the Italian textile market could help rectify this situation. Egyptian exports to Italy in the same year were down 15.2 per cent.
Conceding that the Italian-Egyptian Business Association "is not very active," Filipo Scammacca Del Murgo, economic counsellor at the Italian embassy, revealed plans to establish an Egyptian Italian Business Forum aimed at upgrading bilateral trade.
