Italy Will Invest $ 200 Million in Egypt

The talks President Mohamed Morsy held with Italian Foreign Minister Giulio Terzi stressed the need for boosting trade exchange and the increase of Italian investments in the Egyptian market. The Italian foreign minister, following the meeting, said that Italy will invest the sum of USD 200 million in Egypt using the way of swapping debts. The Italian foreign minister added that an Egyptian-Italian businessmen council will be established in the coming stage. He affirmed that Italian investments will never leave Egypt adding he discussed with President Morsy means to consolidate bilateral relations in the field of small and medium projects.

The Italian foreign minister said President Morsy agreed to remove any hurdle blocking foreign investments and that he handed over a message to Morsy from Italian president Giorgio Napolitano included an invitation to visit Italy. On the other hand, Foreign Minister Mohamed Amr held on Thursday talks with his Italian counterpart Giulio Terzi on boosting partnership between the two countries, especially in the economic domain. Talks also tackled a number of Arab and Mediterranean issues in addition to boosting international cooperation. Talks also tackled the developments in the Horn of Africa region, especially in Somalia, as well as the current Sudan-South Sudan negotiations to settle all pending problems.