The bilateral meeting between Nassar and the Italian delegation leads to opening economic prospects in Africa

Bookmark and Share

Wednesday - 24 October 2018 - 11:38 AM




Eng. Amr Nassar, Minister of Trade and Industry, said that the current stage is witnessing an economic momentum between Egypt and Italy in all fields, which paves the way for a breakthrough in Egypt-Italy relations.



This came during the meeting held by the Minister with an Italian trade mission comprising 25 major Italian companies operating in various fields.



He pointed out that there are great opportunities for cooperation between Egypt and Italy in the African countries, especially that Egypt is currently adopting an integrated plan to promote industrial cooperation, trade, and investment with a number of countries in the east and west of the African continent.



He added that «the ministry is working during the current phase of establishing a number of logistics centers in Africa, and activating the role of commercial representation offices deployed in a large number of capitals and major African cities, to strengthen the capabilities of Egyptian products to access these markets», pointing out that the ministry’s working plan Aims to strengthen cooperation with Egypt’s economic partners in the field of establishing joint investment projects in Africa.



Nassar explained that the ministry aims at attracting large and medium, small Italian industrial projects to work in the Egyptian market and export to neighboring markets.



Nassar pointed out that Egyptian exports to Italy achieved a remarkable growth during the first eight months of this year, reaching $ 24.2 million, compared to $ 986 million during the same period last year, while the Egyptian imports to the Italian market declined by $ 2 billion 964 million dollars compared to 3 billion and 638 million dollars in the period from January to August 2017.



For his part Pietro Tombacini, Head of the economic and trade department at the Italian Embassy in Cairo, said that the Italian market remains the primary destination for Egyptian exports to the continent of Europe, pointing out that exports of textiles and agricultural products come on top of Egyptian exports to Italian markets.