Arab Women Investors Union Says Trade in Local Currencies Bet.Source: www.export-egypt.com 10/26/2024, Location: Africa |
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Arab Women Investors Union chief Hoda Yassin praised the speech of President Abdel Fattah El Sisi during his participation in the BRICS summit, in which he stressed the Egyptian state's support for promoting cooperation frameworks in the field of financial settlements in local currencies between member states.
In statements, Yassin said this move represents an important element for increasing the volume of trade between Egypt and the BRICS member states. She stressed that completing trade deals in the local currencies of member states eases pressure on hard currency "dollar" and is reflected in the strength of the local currency. The announcement of allocating an industrial zone for the BRICS group in Egypt confirms the features of future joint cooperation in various industrial sectors and establishing projects, through the advantages and facilities provided to the group's countries in that region. She praised the importance of the relative advantages of the group's countries and launching joint economic, investment and development projects, especially in the fields of agriculture, industry, digital transformation, and new and renewable energy. Sisi supports the important role of the BRICS Business Council and Businesswomen's Alliance, she said, adding, it intensifies cooperation between the private sector and business owners in the member states. Yassin said the support is positively reflected in the Arab-African Investment and International Cooperation Conference and Exhibition, which will be organized by the Arab Women Investors Union under the auspices of the Council of Ministers and the League of Arab States during the period from November 11 to 15 in Aswan Governorate. |
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