Egypt, Bangladesh ink joint economic, technical coop. agreement

CAIRO - 2 July 2018: Investment and International Cooperation Minister Sahar Nasr signed Monday with Bangladesh's Ambassador here Muhammad Ali Sorcar an economic and technical cooperation agreement between the two countries at the ministry's premises.

Nasr underlined that the agreement will contribute to promoting joint cooperation in several sectors topped by encouraging mutual investments and exchanging experts as well as trainees besides providing scholarships in the economic and technical fields.

The agreement stipulates also establishing joint ventures between the firms of the public and private sectors, she said.

It represents a step towards creating new aspects of bilateral cooperation, the minister underscored, stressing the importance of enhancing economic and investment relations between the two countries.

Nasr affirmed that the agreement is considered a general framework to memorandums of understanding (MoU) that will be inked during the coming period including an MoU to encourage investment.

She urged investors in Bangladesh to pump new investments especially in the mega national projects of developing the Suez Canal corridor and Upper Egypt, calling on them also to benefit from the incentives which are guaranteed by the new investment law.

The minister stressed the importance of increasing the volume of Bangladeshi investments in Egypt which reach $12 million in the fields of information technology and services.

For his part, Sorcar said that Egypt is one of the most important strategic countries that Bangladesh seeks to bolster cooperation with in many fields.