Trade min. urges Arab, European states to drum up efforts for economic stability

CAIRO - 11 November 2020: Trade and Industry Minister Niveen Gamea urged Arab and European countries to rally up efforts to overcome economic crises and realize economic stability through opening new vistas of cooperation and make use of regional wealth.

She referred to painstaking efforts being exerted by President Abdel Fattah El Sisi to communicate with Egypt's partners to promote growth and stability mechanism.
 

She noted that the most remarkable efforts were launching the East Mediterranean Gas Forum which is vital for successful management of state wealth in collaboration with regional states.
 

This came in the minister's speech which was delivered on her behalf of her by Ahmed Maghawry, head of the Commercial Representation Authority, during the fifth Arab-European summit which kicked off in Greece via video conference.
 

The event - under the theme of strategic partnership between the Arab Arab world and the European Union - is held under the patronage of the European Parliament and the Greek Foreign Ministry and with the participation of the Greek investment minister and a large number of ministers and representatives from Arab and European governments.

Gamea said the Arab countries passed through hard circumstances over the past 10 years that affected their economic conditions in addition to the coronavirus crisis which swept the whole world.

She added that realizing balanced and sustainable economic growth comes at the top of the Egyptian government's priorities.

She referred to the successful economic reform program which has contributed to getting the Egyptian economy to realize the best growth rates in the Middle East and North African region in addition to helping Egypt in the face of the economic repercussions of the coronavirus.

Egypt realized a growth rate of 3.8 percent in the fiscal year 2019-2020, a matter which marked a great achievement in view of the international challenges which had a negative impact on economies of many countries.

She noted that the government seeks to double its investments in the current year at a total of EGP 20 billion, adding that 10 percent of investments would go to water and sanitation projects.