25 October 2017

Egypt: Sisi Meets French Finance Minister, Signs Four Loi

Egyptian President Abdel Fattah El Sisi conferred on Wednesday 25/10/2017 with French Finance Minister Bruno Le Maire on means of buttressing economic cooperation and establishing new projects.

A statement released by the French Finance and Economy Ministry said the French minister underlined the importance of economic partnership with Egypt in the various sectors, saying the new projects can be implemented in the coming months.

Le Maire also probed providing more facilities to up investment and trade exchange, asserting his country's backing for the economic reforms launched by Sisi two years ago.

Sisi is scheduled to meet with heads of 25 French companies operating in Egypt or willing to set up branches in Cairo.

The meeting will cover investment opportunities in the fields of energy, communication, transportation and sustainable cities.

The two sides are expected to sign four letters of intent (LOI) to support youth projects of mobile food carts and urban transportation in the Egyptian city of Mansoura.

Egypt's Railway Authority will also sign LOI with the French National Railway (SNCF) and the French independent transportation authority to establish a new metro line.

President Sisi arrived in Paris on Monday night on a three-day visit to French. He is accompanied by Foreign Minister Sameh Shoukry, Minister of Trade and Industry Tarek Qabil, Minister of Finance Amr el Garhy, Minister of Planning and Administrative Reform Hala el Saeed and Transport Minister Hisham Arafat.

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