Nassar orders restructuring Egyptian side to Egyptian-Kuwait Economic Cooperation Council

CAIRO, Aug 4 (MENA) - Minister of Trade and Industry Amr Nassar on Sunday issued a decision to restructure the Egyptian side to the Egyptian-Kuwaiti Economic Cooperation Council under the chairmanship of Safy Wahba, CEO of El Safy Group for Imports and Exports.

In a statement, the Ministry of Trade and Industry said the decision stipulates that the council's term is three years and its chairman should issue a periodical report every six months to the minister including the activities of the council and its future plans to achieve the best interests of both countries.

The statement asserted that the decision comes in line with the ministry's plans to beef up cooperation with the Kuwaiti side especially in the commercial and investment domains.

It added that Kuwait comes in the fourth place as one of the biggest investors in Egypt with total investments amounting to dlrs 3.7 billion. Kuwait also ranked third as the biggest Arab trade partner for Egypt in 2017.

The council's members include Helmy Neda, Chairman of Adbiya Company for Navigation, Egyptian lawmaker Mai Mohamed Batran, Mohamed Mohsen Salahuddine, Chairman of Arab Contractors Company, Mohamed Hisham Zazaou, former tourism minister, Hisham Ahmed Okasha, Chairman of the National Bank of Egypt (NBE) among others.