Italy’s ambassador return opens door to Italian investment in Egypt

CAIRO – 13 September 2017: The return of the Italian ambassador to Egypt opens the door to Italian investments in Egypt, the head of Cairo’s Egyptian-Italian Business Council, Khaled Abu Bakr, told Egypt Today on Wednesday.

Abu Bakr asserted that trade and economic ties between Egypt and Italy have not severed during the absence of ambassadors; on the contrary, this time witnessed the signing of investment agreements for the Italian ENI company and others in the electricity sector. The two sides also exchanged invitations to attend joint meetings in Cairo and Rome.

Before the withdrawal of Italian ambassador from Egypt, Italian bank "Intesa Sanpaolo Bank" prepared researches of projects that Italian investors could contribute in the development of the Suez Canal project, he added

Abu Bakr also expected the first meeting of the Egyptian-Italian Business Council to be held before the end of this year in the presence of the Italians.

He went to praise the role played by President Abdel Fatah al-Sisi in managing the Italian file in "a highly professional manner", taking into consideration the national interest. He also said that Egypt is now playing a large regional role in the region, especially in cases related to illegal immigration.

The new Italian ambassador to Egypt, Giampaolo Cantini, was received by officials in Cairo International Airport on Wednesday to assume his post after presenting his credentials to Sisi.

Last month, Italy decided to send Cantini to Cairo, citing “progress in cooperation in the investigation of the 2016 murder of the Italian post-graduate student in Egypt” as the reason.