Eng. Rasheed Mohamed Rasheed, Minister of Trade and Industry said on 16/5/2008 that the Egyptian economy is strong and stable due to the political and economic stability seen in Egypt. He said the World Economic Forum on the Middle East , to be held in Sharm el-Sheikh will discuss the world food crisis and the use of grains in developing bio-fuel. The forum will also discuss the future of investment in the Middle East.

He said the Egyptian economy grew last year by 7 per cent compared to 3 per cent few years ago, adding that the volume of direct foreign investments amounted last year to $ 11 billion compared to only $ 1 billion few years ago.

He said investment sectors in Egypt are diversified between industry, tourism, real estates, agriculture, petroleum and gas. He said Egypt has started to diversify economic relations with many world countries, referring to the agreement signed with China for the establishment of the biggest industrial zone outside China. 

The minister also referred to the importation of wheat from France and Kazakhstan and preparations for the establishment of a Russian industrial zone in Egypt. He also referred to the signing of the free trade agreement with India. He said the government is keen to facilitate the flow of trade and investment between Egypt and Asian states.