30 December 2012

Egypt: Nation, Croatia to Establish Business Council

Minister of Industry and Foreign Trade Hatem Saleh indicated Saturday that the ministry will establish the Egyptian-Croatian business council within two weeks.

During a meeting with Croatian Ambassador in Cairo Darko Javorski, the minister discussed economic cooperation between the two countries in the near future.

The meeting also took up the establishment of the council, its first session that will kick off within the coming two weeks and its agenda that includes joint investments in the domains of furniture, food and petrochemical industries.

"The two countries have an opportunity to double their trade exchange", Saleh said keeping his fingers crossed as the current volume reached 104 million euros in 2011.

Saleh also noted the importance of exhibitions held in the two countries as a first step that takes the volume of trade up.

Saleh also drew attention that insolvent factories in Europe may be moved to Egypt where they may take the advantage of cheaper labor, competitive environment and lower energy prices.

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