Egypt: Arab Investors Union Chief Hails Egypt-EU AgreementSource: www.export-egypt.com 5/31/2017, Location: Africa |
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Egypt's partnership agreement with the EU includes several mechanisms to improve the competence of the government bodies and its work methods, said the chief of the Arab investors union Gamal Bayoumi.
Addressing an event organized by the Egyptian-European Business Council, Bayoumi called for putting into effect a twinship accord signed between the Egyptian investment authority and its German counterpart. Under this accord, the German side has offered a technical and financial support worth 93 million euros to Egypt, he noted. The event was meant to review Cairo's efforts to reform the investment sector include a newly-issued law on investment. Bayoumi said there are eight Egyptian bodies that have been picked for similar agreements with the EU Thanks to the association agreement with the EU, Egypt's exports to Europe jumped from $3 billion in 2003 to around 11 billions in 2010, he said. The agreement, signed in 2004, allows Egyptian exports into European markets without customs fees, he noted. |
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