Egyptian trade minister aims to facilitate Italian companies

Italo-Egyptian forum in Cairo success, in Naples in 2020

23 December, 18:17

    NAPLES - Egyptian Supply and Internal Trade Minister Ali El-Moselhy said his ministry's objective is to "increasingly facilitate Italian companies to enter Egypt", given that inflation in Egypt is currently at -5% and there is political willingness to support investments "not only in words but also in deeds".
    El-Moselhy's comments came on the occasion of the Italian Egyptian Economic Forum (Investment in Trade) that recently concluded in Cairo.
    Next year's edition will be held in Naples, organised by the Italian Confederation for Economic Development (CISE), dedicated to developing trade relations between the two countries.
    "Italy is Egypt's top trade partner and exchange between the two countries concerns product sectors ranging from textiles to oil and gas," said Italian Ambassador to Egypt Giampaolo Cantini.
    "The Egyptian private sector greatly appreciates Italian manufacturing, machinery, the textile sector, the entire Italian 'know-how'," Cantini said.
    "And Egypt is traditionally an important hub that unites the Mediterranean with Africa," he said.
    The first concrete results are already being seen, according to CISE President Giuseppe Romano.
    "The Italian special economic zones are signing agreements and are in synergy with the Franco-Egyptian zones, and we would like to bring the know-how of Nola Interporto here," he said.

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