Egypt: Cooperation Between Country and Italy to Reactivate Economy

Egypt's Ambassador in Rome Farid Monib said Italian political quarters have welcomed the planned visit by President Mohamed Morsy to Italy.

Monib said since the outbreak of the January25 revolution, Italy has expressed support for all reform steps taken by Egypt, referring to three visits by the Italian Foreign Minister during the past six months.

He said Italian Prime Minister Mario Monte visited Egypt last July for talks on supporting bilateral relations with Egypt.

On commercial relations between Egypt Italy, the Egyptian Ambassador said relations between Egypt and Italy in the field of trade are distinguished adding Italy is Egypt's first trade partner in the EU and the second after the United States.

Monib noted the volume of inter Trade Amounted in 2011 to 5,1billion Euros adding the volume of Italian investments in Egypt is 2.6 million Euros.

He said Italy has 789 projects in Egypt distributed between energy, agriculture, tourism, the Banking and financial sector. Moreover he said Italian tourism represent 10% of the volume of incoming tourism to Egypt.

The Egyptian Ambassador said the Egyptian community in Italy is one of the biggest communities adding the Egyptian Embassy is keeping in touch with them to solve their problems.

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