Turning Egypt into regional hub for oil trade benefits region: Min.

CAIRO - 30 October 2018: Minister of Oil Tarek el- Molla asserted that Egypt would proceed with plans to increase cooperation with the European Union and boost joint relations in a number of important economic projects especially the national project to turn Egypt into a regional energy hub.

A statement released by the Oil Ministry on Tuesday said turning Egypt into a regional energy hub would benefit all our neighboring countries and Europe.

The statement was released after Molla's meeting with Spanish Ambassador in Cairo Arturo Affilio on the occasion of the end of his tour of duty in Egypt.

During the meeting, Molla praised the level of existing cooperation between the two countries in view of the rapprochement between the two political leaderships, a matter which would contribute to upping investments and economic cooperation between the two countries.

The Spanish envoy, for his part, praised the positive developments in the climate of investment in Egypt over the past period, a factor which he described as "motivating" for the Spanish and international companies to enlarge the scope of their business in Egypt especially in the fields of gas and petroleum.