MoUs to boost cooperation with Greece- Qabil

CAIRO - 9 November 2017: Minister of Trade and Industry Tareq Qabil said on Thursday preparations are under way to sign a number of memorandums of understanding between the Egyptian and Greek governments.

The expected MoUs aim to boost joint cooperation between both governments in the fields of transportation, tourism, double taxation, establishment of fisheries as well as agricultural crops, Qabil noted.

Egypt and Greece represent a bridge that links the East and the West, Qabil said, adding that Egypt is Greece's gateway to Africa while Greece is among Egypt's main gateways to Balkan countries and Eastern Europe.

Qabil, who is visiting Athens to participate in the 2nd EU-Arab World Summit on behalf of President Abdel Fattah El Sisi, made the remarks during the meeting held with Greek Deputy Prime Minister Yannis Dragasaki.

In a statement, the ministry said talks took up the future of economic cooperation between the two countries and means to boost rates of inter-trade as well as joint investments in the coming phase.

Egypt and Greece have great potentials and capabilities especially in the field of energy, Qabil noted, pointing out that Egyptian-Greek-Cyprus cooperation in the energy field represents a unique model of fruitful cooperation based on mutual interests.

Qabil highlighted the importance of setting up a regular navigation bridge between both countries to facilitate transportation of their goods to other markets especially in Eastern Europe and Eastern Africa.

Egypt welcomes Greek companies seeking to invest in the Egyptian market especially in the industry sector which represents key factor in Egypt's economic development that contributes by 18 percent of the GDP, the minister added.

For his part, Dragasaki expressed appreciation for Egypt's participation in the 2nd EU-Arab World Summit that aims to boost cooperation between the European Union (EU) member states and the Arab countries.

He hailed the deeply-rooted and historical relation binding both countries on political, economic and cultural levels.

He voiced his country's keenness on enhancing investment relations with Egypt and implementing development projects in the Egyptian market especially in view of strong relations of Greece with foreign funding institutions.