Egypt, Italy sign of 9 MoUs to enhance cooperation

CAIRO - 22 December 2019: Minister of Supply and Internal Trade Ali Moselhi has witnessed the signing of nine memoranda of understanding between Egypt and Italy at the conclusion of the second Egyptian-Italian Economic Forum hosted by Cairo last week.

In a statement released on Sunday, the Ministry of Supply and Internal Trade said the signed agreements include the establishment of an integrated Italian trade and logistics entity in Egypt.

Another MoU was signed between the Egyptian Holding Company for Silos and Storage and an Italian company to continue a national plan to set up silos in Egypt, according to the statement.

The third deal was clinched between the Egyptian-European Investors Association and the Italian Confederation for Economic Development to set up a center for the design of leather and furniture products, added the statement.

The other deals cover cooperation in the fields of agricultural products, electronics and the real estate sector, the statement said.

Meanwhile, Moselhi voiced happiness over the success of the Egyptian-Italian Economic Forum's meetings, which he described as a step reflecting the strength of the two countries' economic relations, noting that the signed deals would achieve profits for the Egyptian economy.

He extended an invitation for Italian companies to take part in the Mediterranean Forum meeting due to convene in March.

Meantime, Head of the Italian Confederation for Economic Development Jose Romano asserted that the Italian companies are deeply interested in establishing business in Egypt, highlighting the recent measures taken by the Egyptian government to lure and ease foreign investments.