19 October 2018 08:08 PM

Egypt, UK consider future of economic relations ahead of Brexit: min.

Thursday، 17 May 2018 - 02:00 PM

Minister of Trade and Industry Tareq Qabil said on Wednesday that Cairo is in talks with British government officials to coordinate stances on future of bilateral economic relations in light of the UK’s departure from the European Union.
Qabil made the remarks during the first meeting of the Egyptian-British Business Council after restructuring the Egyptian side. The meeting tackled the council’s role in boosting economic cooperation between Cairo and London in the coming stage.
The minister also underscored the importance of bolstering the strategic partnership between the two countries in a way that helps boost trade exchange and achieve further trade balance.
The Egyptian-British Business Council in its new form will have a major role in supporting and developing trade movement as well as in encouraging the British private sector to carry out various projects in Egypt.
On that score, Qabil noted that the Egyptian government is working to remove all obstacles that may face the current and new British investments in the local market.
Britain is one of the largest investors in the Egyptian market with investments totaling $5.6 billion through 1,450 projects, he revealed.
In March, Qabil issued a decision to restructure the Egyptian side at the Egyptian-British Business Council to be led for the coming three years by chairman of British Petroleum Egypt Hesham Mekkawy.


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